Senex Energy Limited (Senex, ASX:SXY) enters FY16 in a good financial position, after solid oil production in FY15, record oil and gas 2P reserves growth, and a step change in the development of a material gas business.
Key points FY15:
- Production of 1.39 mmboe, up 1% from 1.38 mmboe
- Sales revenue of $115.9 million, down 32% from $170.9 million
- EBITDAX of $49.5 million, down 46% from $91.1 million
- Underlying profit of $5.6 million, down 87% from $44.7 million
- Statutory loss of $80.6 million, down from a profit of $37.9 million, including non-cash impairment charge of $97.0 million
- 2P oil and gas reserves of 94.6 mmboe, up 137% from 39.9 mmboe
- Liquidity: cash of $49 million, $80 million undrawn debt facility, hedging program for FY16 oil sales
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