The board of directors of Loyz Energy Limited announced that, following a preliminary review of the unaudited consolidated financial results of the Group for the fourth quarter and financial year ended 30 June 2017, the Group expects to record a net profit for both fourth quarter and fiscal year 2017. This was mainly attributable to (i) the net profit contributed by the Group's Thailand concessions; and (ii) a one-off gain on derecognition of deferred consideration in the fourth quarter of 2017 as a result of the amendments made to the consideration for the acquisition of the Thailand concessions pursuant to the supplemental sale and purchase agreement entered into between the Group and Carnarvon Thailand Limited. In the fourth quarter of 2017, the Gains were partially offset by an increase in other charges mainly due to the impairment of goodwill. In fiscal year 2017, on top of the Gains, other charges decreased substantially as a result of the absence of one-off impairment losses recorded in the previous financial year ended 30 June 2016.