News: STX Strike Energy Posts HY Profit A$11 Million, page-3

Hi RR2
Great respect to you, but before people get too excited, the congratulations should be going to the auditors who allowed STX to book a non-cash tax benefit of $18M.

The pre-tax loss was $7.4M and that is a better guide as to how STX performed during the past 6 months.

And of course, in the next 6 months those same auditors are likely to insist that STX has to record a very large write down of its SE assets. Have a look at note 13 and you will see that STX spent $52M on exploration during the past 6 months and I expect most or all that was on SE and will probably have to be written off for the June year end.