Shares of Serinus Energy PLC (AIM:SENX) fell 11% in early trading following the release of first-half results, which revealed the impact of falling oil prices on the producer.
The Jersey-based company, which has operations in Tunisia and Romania, saw its revenues drop to $8.9 million in the six months ended 30 June 2023, compared with $29.3 million during the same period in 2022.
EBITDA, gross profit and funds from operations also saw sharp declines, registering at $0.5 million, $0.8 million and $0.4 million respectively.
At 9.33 am, the shares were changing hands for 3.28p, down 0.42p.