TUSKAR Resources, which is involved in a reverse takeover bid from Allied Energy, increased its loss before tax from £352,000 to £1,171,000 in the year to March 31st, 1996. The losses arose mainly due to exploration expenditure of £911,000.

Sales fell from £382,000 to £355,000. The loss per share rose from 0.12p to 0.4p. Shareholders funds fell from £3,239,000 to £2,069,000. The deficit in the profit and loss account rose from £55.1 million to £56.3 million.