Jasper Investments loses a staggering $255m in 2Q15

Plus they have no record of revenue at all.

Oil and gas firm Jasper Investments sunk into the red in 2Q15, as costs rose and profits plunged.
For the quarter ended 30 Sep 2014, the Group did not record any revenue due to non-employment of “Jasper Explorer”.

According to a media release, Jasper Investments recorded a gross loss of US$9.5 million in 2QFY2015 attributed primarily to operating costs of the “Jasper Explorer”.

At the close of 2QFY2015, the Group recorded a net loss after tax and non-controlling interest of US$255 million.

Here’s more from Jasper:

Amid a declining oil price and every economic indicator projecting a weak and uncertain global outlook, the oil and gas industry is preparing for the worst by cutting capital and operating budgets which will adversely affect future day rates and rig utilization. The Group continues to market “Jasper Explorer” for drilling contracts in very challenging conditions.

As at the date of this announcement, whilst the Group is in pre-tender discussions with an oil and gas company for a potential drilling contract, there is no assurance that such discussions will result in a contract being procured or commenced within the remaining reporting periods in FY2015.