Senex Energy Ltd (ASX:SXY) has reported a statutory net loss after tax of $33.2 million in FY16. This is still better than its FY15 result – when they posted a much higher loss of $80.6 million.
Senex also says its sales revenue dropped 40% to $69.3 million due to lower volumes and lower oil prices.
However, the company recognised a $38.2 million net gain after selling its gas asset, the Maisley Block, to Santos GLNG in the Surat Basin, South Australia. But this was offset by a non-cash impairment of $69.7 million, recognised in the first half, on some of Senex’s longer-dated Cooper Basin exploration assets.
For the FY17, Senex has offered capital expenditure guidance of $60 - $70 million, and says it may possibly deploy further capital in the Cooper Basin if there is sustainable recovery in oil prices.
