SEAUNION Holdings, formerly known as Summa Promet Energy, has reported a loss of US$501,000 for the six months to June 30, compared with a profit of $47,000 for the same period last year. Loss per share was 0.015 US cent, against earnings per share of 0.001 cent previously. Turnover fell 81 per cent to $258,000 from $1.36 million. No interim dividend was declared. Seaunion said a lack of working capital had forced the group to defer its well maintenance programmes and ultimately led to a suspension in trading of its shares last November. In May, a convertible loan with Quantum Emerging Growth Partners provided the working capital needed to re-start field activities in the second quarter of this year. On August 20, Seaunion entered into agreements with China National Offshore Oil Corporation (CNOOC) whereby the mainland firm agreed to provide technical support and Seaunion granted CNOOC an option to subscribe 344.38 million shares. Seaunion said the group's capital reorganisation would become effective tomorrow and its shares would resume trading on the stock exchange.