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AWE Posts Net Loss at Year-End; Talks 2015 Strategy
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AWE Limited announced its results for the first half of the 2014-15 financial year. The company reported a statutory net loss after tax of $61.7 million which included $50.1 million of non-cash impairments. After adjusting for non-recurring items, AWE’s underlying net loss after tax was $13.9 million.
Managing Director, Mr Bruce Clement, said that AWE delivered a solid operating and production performance and the company is well positioned to deliver on its growth strategy despite the current low oil price environment: "The first half of the 2014-15 financial year was positive for AWE, despite lower oil prices. We achieved a number of major development milestones and made an exciting gas discovery in Western Australia that has the potential to add substantially to revenue and production…
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