The four agreements worth RON43 million represent almost two thirds of Foraj Sonde’s 2023 turnover worth RON68.5 million.
At end-2024, Foraj Sonde Craiova completed drilling works at the 78 Rosetti ST exploration well, part of the Caragele project, which covers several localities in the counties of Buzau and Braila. The project is the most onshore investment in exploration portfolio of Romgaz.
Foraj Sonde Craiova ended the first half of 2024 with loss of RON1.9 million, compared to net profit of RON627,820 in the same period of 2023 and net profit of RON1.7 million in the same interval of 2022. Its turnover dropped 4.7% to RON37.4 million against the first half of 2023. On June 30, 2022, the company’s turnover neared RON75 million.
FOSB shares have traded 36.5% lower over the last year, amid a low traded volume. Valued at RON216 million, the company is 68.5%-owned by Valentin Marius Cristescu, and 27.3% by Emil Cristescu.