Cooper Energy (ASX:COE) to writedown $108 million

25Aug

Cooper Energy (ASX:COE) to writedown $108 million

 

Cooper Energy (ASX:COE) will writedown the value of its assets by $108 million (before tax).

This charge has no impact on underlying EBITDAX or cash flow and is excluded from underlying results.

The writedowns come as the price of uncontracted Victorian gas has fallen 50 per cent from this time last year.

Shares in Cooper Energy (ASX:COE) are trading 0.7 per cent lower at 36 cents.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

06Nov

Bubs (ASX:BUB) inks strategic agreement with Alibaba

06 Nov 2019 - Bubs Australia (ASX:BUB) has inked a strategic agreement with Alibaba Centralised Import Procurement to capitalise on the growth of China’s goat dairy market.

Read More
20Feb

Stocks of the Hour: PARKD, First Lithium, Vection Technologies

20 Feb 2024 - A snapshot of the stocks on the move, featuring PARKD (ASX:PKD), First Lithium (ASX:FL1) and Vection Technologies (ASX:VR1).

Read More
29Jul

Stocks of the Hour: Aruma Resources, Terra Uranium, New Age Exploration

29 Jul 2024 - A snapshot of the stocks on the move, featuring Aruma Resources (ASX:AAJ), Terra Uranium (ASX:T92) and New Age Exploration (ASX:NAE).

Read More
20Mar

Wesfarmers (ASX:WES) report weakness in sales of apparel

20 Mar 2020 - Wesfarmers (ASX:WES) report that since the start of the calendar year, overall momentum in the Group’s retail sales has continued in line with the first half of the financial year.

Read More
15Sep

Pilbara Minerals (ASX:PLS) achieve financial close for US$110m debt facility

15 Sep 2020 - Pilbara Minerals (ASX:PLS) has completed and executed the finance documents supporting the senior secured US$110M Finance Facility with BNP Paribas and the Clean Energy Finance Corporation (CEFC).

Read More
17Aug

Covid-19 construction slowdown hits GWA Group’s (ASX:GWA) results

17 Aug 2020 - Bathroom fixtures and fitting supplier GWA (ASX:GWA) Group says its profit for the 2020 financial year fell 12 per cent to $44.9 million.

Read More
09Jun

First Graphene (ASX:FGR) joins EU graphene flagship as an associate member

09 Jun 2020 - Advanced materials company, First Graphene (ASX:FGR) has been accepted as an Associate Member of the EU Graphene Flagship.

Read More
09Apr

Stocks of the Hour: Miramar Resources, Solstice Minerals, Helix Resources

09 Apr 2024 - A snapshot of the stocks on the move, featuring Miramar Resources (ASX:M2R), Solstice Minerals (ASX:SLS) and Helix Resources (ASX:HLX).

Read More
03May

Stocks of the Hour: Chariot Corporation, Haranga Resources, Patagonia Lithium

03 May 2024 - A snapshot of the stocks on the move, featuring Chariot Corporation (ASX:CC9), Haranga Resources (ASX:HAR; FRA:65E0) and Patagonia Lithium (ASX:PL3).

Read More
08Jan

Webcentral Group (ASX:WCG) to surrender Sydney office lease

08 Jan 2021 - Digital service provider, Webcentral Group (ASX:WCG) advises that it has signed a heads of agreement in relation to the surrender of its property lease with the landlord of Levels 22 and 23 at 680 George Street, Sydney.

Read More