OPERATIONS

Australis hit by impairments but outlook positive

ASX listed Australis Oil & Gas, which operates several producing assets in North America, posted a US$125.2 million loss for the year ended December 31, but things are looking a lot rosier for the company over the next 12 months.

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  The loss included impairments of $126.7 million, however its net profit before impairments and tax was $1.5 million.  Losses could have been more dire, had the company not hedged much of its oil...

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