Stuart has a 75% interest in the Acrasia oilfield in South Australia's Cooper Basin that contains three producing wells (Acrasia-1, 2 and 3).

Stuart said significant expenses in the half included $259,000 relating to amortisation of exploration, evaluation and development, $35,000 for depreciation and $148,000 for royalty and native title payments.

While interest revenue fell from $84,000 to $22,000, the company did incur borrowing costs, mainly interest, of $93,000.

Currently, Stuart is trading at 29c per share, unchanged from yesterday.