Ann: Preliminary Final Report , page-3

keygeo

in reference to your numbered points;

1) According to the report those assets were sold at a LOSS to book value, although as it points out they generated significant revenue over the period they were held.

2)AMU not chasing big wildcats anymore so even though they have successfully drilled several wells they will not have a huge impact on the bottom line

3)Yes, but the oil hedges resulted in a paper loss, hedges have been reduced post FY end

Plenty of abnormal items in there this year including redundancies etc

certainly $A hasnt helped as AMU report in $US

At the end of the day the balance sheet looks a whole lot stronger with 0 debt and plenty of cash on hand. Impact of hedges will be reduced next year and no interest cost will add about $1.2m pa, hopefully they wont be needing to spend so much on lawyers and corporate advisors which will save considerable coin also