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

25AugAugust 25, 2020

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

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