White Nile reports maiden FY loss of 394,039 stg

Dec 22, 2005 (LONDON) — White Nile Ltd, the AIM-listed oil and gas exploration company headed by Phil Edmonds, the former England cricketer, reported a maiden full year loss of 394,039.

The year was a rocky one, with concerns over its Sudan business after the death in a plane crash of Southern Sudan leader John Garang. There were also concerns over the liquidity of the stock after a bout of activity by short sellers.

Edmonds said today the group has raised some 16 mln stg to date which will be utilised for working capital and to develop activities in Southern Sudan and the immediate region.

(AFX/ST)