New Times Energy Corporation Limited provided earnings guidance for the six months ended June 30, 2018. For the period, the group is expected to record a loss in the range of approximately HKD 92.5 million to approximately HKD 102.2 million for the six months ended June 30, 2018, as compared to a loss of approximately HKD 222.9 million for the same period in 2017. The estimated decrease in the loss of the group is mainly due to two factors, namely: the Group's results for the same period in 2017 was adversely affected by an impairment loss on exploration and evaluation assets in respect of the Tartagal Oriental and Morillo Concessions in Argentina in the amount of approximately HKD 155.5 million incurred and recognised for that period, while there was no such impairment loss for the six months ended June 30, 2018 and the recognition of an impairment loss on the promissory note issued by Foothills Exploration Operating Inc., for the six months ended June 30, 2018 in the amount of approximately HKD 38.8 million, which was absent for the six months ended June 30, 2017.