Oilex Ltd - Australian oil and gas explorer - Pretax loss for year to June 30, widens to AUD4.5 million, around GBP2.5 million, from AUD3.1 million loss a year ago. No revenue generated in financial 2020 versus AUD188,220 recorded a year ago. Exploration expenditure jumps to AUD1.0 million from AUD491,675. Records AUD1.3 million exceptional cost versus no such charge in comparative period. Says Covid-19 and oil price collapse led to delays in spin-out of Cooper-Eromanga basin and to Cambay project in India. Continues to review business opportunities in high potential areas.
Current stock price: 0.07 pence
Year-to-date change: down 59%
By Tapan Panchal; tapanpanchal@alliancenews.com
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