Frontera Resources reports loss

Frontera Resources swung to a loss in the first half of this year, reporting a net loss of $4.4m (£2.7m) from $11.2m over the first half of 2012. The oil and gas exploration and production company, whose core operations are in Georgia, reported increased crude oil sales of $3.3m, up from $3.1m last year. The oil and gas company is currently expanding its ventures in the Black Sea.