RNS Number : 2884C
  Anzon Energy Limited
  29 August 2008
   


    ANZON ENERGY LIMITED (CODE: AEL)

    29 August 2008

    ANZON ENERGY LIMITED ANNOUNCES THAT ITS SUBSIDIARY
    ANZON AUSTRALIA LIMITED (ASX CODE: AZA) HAS TODAY MADE
    THE FOLLOWING ASX ANNOUNCEMENT


    30 JUNE 2008 HALF YEAR FINANCIAL REPORT

    FIFTH CONSECUTIVE PROFIT ANNOUNCEMENT
    2008 HALF-YEAR GROSS PROFIT INCREASED BY 20.5%

    Anzon Australia Limited (Anzon) is pleased to provide its 30 June 2008 half year Financial Report.

    Profit
    Anzon is proud to advise that this is the company's fifth consecutive profit announcement since listing on the ASX in December 2004.
This reflects the rapid development of its Basker-Manta assets in Gippsland. 

    Profit from continuing operation before tax increased by $19 million (216.1%), as a direct result of Anzon remaining unhedged during the
period ($20 million fair value loss on crude oil swap contracts in 2007 were associated the retired bank facility). 

    The after tax profit for the period decreased by 64.6%, this being due to:
    *     Deferred tax expenses increase of $20.8 million over the comparative 2007 movement; and
    *     An income tax provision of $13.7 million.

    Production, revenue and reserves
    Oil production from the Basker and Manta fields (100%) during the half year amounted to approximately 1.5 million barrels, an average
daily production rate of 8,216 barrels per day (after downtime).

    The Joint Venture sold approximately 1.4 million barrels of crude oil in the first half of 2008, resulting in US$145 million (A$158
million) in gross sales revenue.

    On 19 August 2008, the BMG Joint Venture published an update to its Proved and Probable initial reserves (100% Gross), showing an
increase from an original 39.8 million barrels oil equivalent to 81.9 million barrels oil equivalent (106% increase).

    Reflecting confidence in the project, the BMG Joint Venture has announced a significant drilling program in 2009 and plans to expand the
development with a larger, purpose built FPSO, to be commissioned in early 2010. 

    Takeover offer from Roc Oil Company Limited 
    On 16 June 2008, Roc Oil Company Limited's ("ROC") announced a takeover offer for all of the ordinary shares in Anzon. In addition, ROC
announced that it had entered into a Scheme of Arrangement with Anzon's 53% parent, Anzon Energy Limited.

    The Independent Directors of Anzon advised shareholders to take no action at this time. All the Directors recommendations will be
published after the Anzon Energy Limited Scheme Meeting, which is scheduled for 3 September 2008. These recommendations will be included in
the Target's Statement which is being prepared for mail out to shareholders on 8 September 2008.


    Yours sincerely,


    Andrew A Young
    Managing Director





    A full copy of this announcement is available on the ASX website www.asx.com.au.



    FOR FURTHER INFORMATION PLEASE CONTACT:

    Anzon Energy Limited: Mr Tony Strasser +61 2 9024 3555

    Grant Thornton UK LLP: Fiona Owen +44 20 7383 5100

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
IR EAPPNAAFPEEE

Anzon Energy (LSE:AEL)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024 Anzon Energy 차트를 더 보려면 여기를 클릭.
Anzon Energy (LSE:AEL)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024 Anzon Energy 차트를 더 보려면 여기를 클릭.