Basically they pretty much wrote down the whole non-WA assets? $91 million is a lot of money. May be a good way of saying Jaws is dead...
'The Company has assessed that, subject to audit, it will apply a non-cash pre-tax impairment as at 30 June 2020 of ~$91 million to fully impair its assets in the Cooper Basin.
Currently there is no substantive activity or expenditure planned for the Aldinga oil production well or Marsden 1 exploration well in PEL95 or for the Davenport 1 well in PEL94.
The Jaws project in PEL96 will continue to be piloted for the immediate future, however in accordance with the AASB 6, it is assessed to be unlikely to recover its carrying value in full, taking into account current and expected longer term market conditions and the results of the pilot test to date'.
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Basically they pretty much wrote down the whole non-WA assets?...
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