AWE
(ASX:AWE) has downgraded its production guidance for fiscal 2010 to 6.2 million barrels of oil equivalent.
The company has cited a further extension of the BassGas maintenance shutdown and work-over project in addition to some production decline in the onshore Perth Basin.
The company’s previous guidance was 6.5 million boe.
The company reported revenue of $81 million for the quarter, down 26% on the previous quarter and 42% below the prior corresponding period.
AWE says its balance sheet remains strong with cash reserves of $296 million dollars.
AWE (ASX:AWE) reported a profit of $88.58 million for fiscal 2009.
