StockMarketWire.com - Riverstone Energy has posted a FY profit of $351.4m, from a year-earlier profit of $8.4m. Its net asset value was $1.7bn, which equated to $20.11 a share.

Chair Richard Hayden said 2016 was another volatile year for the energy industry.

"However, Riverstone Energy performed strongly with the successful sale of Rock Oil, NAV growth of 26% and share price appreciation of 70%," he said.

"Today's announcement demonstrates that Riverstone Energy's disciplined build-up oriented investment strategy can deliver strong results for shareholders."






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