Carpathian FY Pretax Loss Widens on Increased Expenses

Carpathian Resources Ltd. said its full-year pretax loss widened on increased expenses but said it is well funded to undertake a review and evaluation of various oil and gas acquisition assets.

The oil and gas company posted a pretax loss of Aud 2.27 million compared with 1.78 million a year ago.

Total revenue rose to Aud 2.75 million from 2.34 million a year earlier.

It said it is actively reviewing and negotiating a variety of acquisitions in Central Europe, Kazakhstan, Russia and the Middle East.

Carpathian said it believes its activities in 2008 will be very positive.

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