The company posted a loss of A$230 million (US$166.6 million) for the recent financial year, which ended 30 June, falling from a profit of A$60.2 million a year earlier.
Adding to AWE's losses was an after-tax non-cash impairment of A$158 million, A$106 million of which related to the BassGas project off Victoria following a reduction in reserves at the Yolla field, while it also booked a combined A$51 million impairment for the Tui field, off New Zealand, and the Cliff Head oilfield, in Western Australia, as a result of declining oil prices.
Not
