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MARKETS

AusTex's Oklahoma hit

AUSTEX Oil has written down its oil and gas assets in the Snake River project in Oklahoma by US$6.17 million (A$7.74 million) for the six months to June 30 after the Australian Securities and Investments Commission raised concerns about the company’s valuations in December.

Haydn Black
AusTex's Oklahoma hit

In May ASIC warned oilers about their obligations to make sure their financial reports contained information that was "useful and meaningful", particularly in the areas of asset valuation and revenue recognition....

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