Excerpt from an article on the internet dated 12 Feb 2019 below.
Does anyone know what the $US$89m one-off cost relates to? Is this publicly available info or another breach of the company’s Corporate Governance?
Article from the internet
“RBC has given Elk Petroleum (ASX:ELK) a ‘maybe’ for how it expects the coming year to pan out, but it expects calendar 2018 results to be underdone compared to 2017 thanks to a a massive $US89m one-off cost.
Elk changed its reporting year from financial to calendar and is due to report full year numbers on March 29.
RBC reckons 2018 is going to deliver a massive net loss of $US109m, compared to an $US8m loss in 2017.
However, it also thinks normalised EBITDA is going to be in the black at $US12m, compared to a $US6m loss.
Elk began producing from its Greive field in the US in April last year — just before oil prices headed towards their October peak for 2018.”
