The company generated A$18.8 million (US$13.4 million) over the September quarter, down 20% on the A$23.6 million recorded in the June quarter.

Senex blamed the slide in revenue on lower realised oil prices, which fell from an average of A$81 per barrel to A$73 per barrel, quarter-on-quarter.

Hurting revenues even further was a 13% decline in production, to about 280,000 barrels of oil equivalent, which the company attributed mainly to natural field decline.

Capital