Qtrly not specific around QLD govt 2 yr review re mining oil...

Qtrly not specific around QLD govt 2 yr review re mining oil shale & impact on IRC
I'd like Dr Mikes view whether V/Mo mining would be excluded because of that.
Also their share investment in Xtract may need revising by yr end....

Feb 6 (Reuters) - Xtract Energy Plc (XTR.L), an oil and gas explorer, swung to a first-half pretax loss mainly due to write-downs related to its Australian oil shale business. The company said on Friday its net loss for the six months ended Dec. 31 was 10.1 million pounds ($14.87 million), compared with a profit of 2.3 million pounds last year.

The results included impairment charges of 9.4 million pounds.

"We believe that there are now better prospects for the company in the coming months than those offered by the oil shale business," Chief Executive Andy Morrison said.

By maintaining the oil-shale mineral rights at limited cash expense, the company retains the option to exploit the resource when investment conditions are more supportive, Morrison added.

The company's Australian subsidiary Xtract Oil Ltd had last year decided to scale back significantly its projected investment in the development of oil-shale technology following a 2-year review period for oil-shale developments announced by the Queensland state government.