Ophir hails strong 2011 trading

Ophir Energy, the Africa-focused energy company which began trading in London last year said 2011 had been a strong year. Revenue lifted from $530,000 (£334,000) in 2010 to $14.68m in the 12 months ended 31 December 2011. The company’s fortunes were boosted by a farm-out from its AGC Profond interests to Noble Energy. Meanwhile, the loss before tax was more or less flat at $19.08m (2010: $19.28m) as higher revenue was offset by rising exploration and administration expenses. The company secured a $384m float in July.