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AWE Limited (ASX:AWE) has extended its full year loss, pulled down by writedowns and impairment charges.



In the 2011 financial year the oil and gas company booked a net loss of $117.6 million, compared to a loss of $29 million the year before.



The latest result includes $145.2 million of one-off losses and an $8.2 million hit from the strong Australian dollar.



In the same period operating cashflow increased 61 per cent, taking the companies underlying loss to $16.1 million.



Looking ahead managing director Bruce Clement says AWE will focus on its base business, exploiting its tight gas and shale gas projects and pursuing growth opportunities.



Shares in AWE closed 4.58 per cent higher yesterday at $1.25.