News: AJL Aj Lucas Group Says For Aussie Ops, In First Half Delivered A$82.7M In Rev

Feb 9 (Reuters) - AJ Lucas Group Ltd (AJL) :

• FOR AUSSIE OPERATIONS, FIRST HALF WE DELIVERED A$82.7M IN REVENUE AND A$15.6M IN EBITDA
• COMPANY BELIEVES THAT OUTLOOK FOR DEMAND FOR METALLURGICAL (OR COKING) COAL REMAINS VERY STRONG
• EVALUATING FULL RANGE OF OPTIONS AVAILABLE TO PROTECT SUBSTANTIAL INVESTMENT MADE IN UK
• COMPANY CONTINUES TO LOOK FOR OPPORTUNITIES TO GROW AND DIVERSIFY ITS DRILLING BUSINESS IN A CAPITAL EFFICIENT MANNER
• WILL CONTINUE TO PAY DOWN ITS DEBT AND SO SEEK TO REDUCE ASSOCIATED INTEREST COSTS
• INVESTIGATING POTENTIAL TO GENERATE ORGANIC CASHFLOW FROM ITS EXISTING ASSETS IN UK
• HAS REVIEWED CARRYING VALUE OF ITS UK SHALE GAS EXPLORATION BUSINESS
• APPROPRIATE TO RECOGNISE IMPAIRMENT TO COMPLY WITH RELEVANT APPLICABLE ACCOUNTING STANDARDS FOR UK SHALE GAS EXPLORATION BUSINESS
• FOR UK SHALE GAS, DETERMINED TOTAL IMPAIRMENT CHARGE OF A$157.3M AGAINST FULL CARRYING VALUE OF EXPLORATION ASSETS TO BE RECOGNISED
• TOTAL IMPAIRMENT CHARGE OF A$157.3M WILL BE RECOGNISED AND DISCLOSED SEPARATELY AS A SIGNIFICANT ITEM IN CO'S FY2023 HALF YEAR