AWE

Despite production for the half year falling 7% to 2.9m barrels of oil equivalent (mmboe), higher oil prices fuelled a 17% jump in AWE’s revenue to $158m. Earnings before interest, tax, depreciation, amortisation and exploration leapt 61% to $103m. Net profit after tax was $30m, a big turnaround from last year’s $50m loss. Table 1: AWE's half-year results Half-year ending 31 December 2011 2010 Change (%) EBITDAX ($m) 103.2 64.2 61 NPAT ($m) 29.7 (49.8) n/a EPS (cents) 5.6 (22.5) n/a Operating cashflow ($m) 75.4 40.7 85 Production (mmboe) 2.9 3.1 (7) Stripping away the gains on asset sales—AWE sold shares...

Despite production for the half year falling 7% to 2.9m barrels of oil equivalent (mmboe), higher oil prices fuelled a 17% jump in AWE’s revenue to $158m. Earnings before interest, tax, depreciation, amortisation and exploration leapt 61% to $103m. Net profit after tax was $30m, a big turnaround from last year’s $50m loss.

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