12 September 2005 Response to ASX Query Green Pacific Energy Ltd (GPE) would like to clarify point 3 in the letter released to the market earlier today responding to the queries raised by ASX. The preliminary results of GPE, which is currently being audited, indicates that it is possible that the operating loss before abnormal items and income tax for the second half of the financial year ended 30 June 2005 would vary from the first half of the financial year ended 30 June 2005 by more than 15%. The change is estimated to be between 80% to 90%. The main reason for the variation is that all the provision for impairment of assets in accordance with Australian equivalents to International Financial Reporting Standards (IFRSs) were taken up in the second half of the financial year ended 30 June 2005. The impairment of assets is currently estimated to be around $2.7 million. -ENDSFurther information: Corporate: Edwin Yeung, Corporate Secretary Phone: 02 92023000 Or visit our website www.greenpacific.com.au
GPE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
