AWE Limited has executed a Sale and Purchase Agreement under which it will acquire a 100% interest and operatorship of two Production Sharing Contracts (“PSCs”) offshore Indonesia, including an undeveloped oil field with an estimated 76 million barrels of recoverable oil. The consideration for the acquisition of the interest in the PSCs will be US$39 [...]
January 23, 2012 | Posted in
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AWE Limited (“AWE”) has agreed to sell an 11.25% interest in T/L1 and 2.75% interest in T/18P in the Bass Basin to Toyota Tsusho Gas E&P Trefoil Pty Ltd (“Toyota Tsusho”) for a cash consideration of A$80.125 million. The transaction provides AWE with a more balanced asset portfolio, a very strong balance sheet, and considerable [...]
AWE Limited, reports the execution of a rig contract for the drilling of the Atlas-1 well. Atlas-1 will be drilled in the Titan PSC, which is located in the offshore East Java Basin, Indonesia. The Atlas well will target a sizable gas prospect, located approximately 35 kilometres north east of the Lengo gas discovery, which [...]
Further to the Company’s announcement on 29 October, 2010, AWE advises that effective today, Bruce Clement has assumed the position of Managing Director of AWE Limited. Accordingly, with effect from the close of business on 31January, 2011, Bruce Wood has retired as Managing Director of the Company. Source: Awexplore, February 1, 2011;
Oil and gas production reached 1.53 million BOE for the quarter, a 3% decline on the previous period. Production was impacted by some operational issues at Tui, BassGas and Casino, which were all successfully resolved by the end of the period. AWE’s share of sales revenue rose by 14% to $72 million. Realised oil prices [...]
AWE Limited reports that at 1100 hours today, the Silvereye-1 exploration well had reached a total depth of 2,318 metres and was preparing to trip out of the hole. Progress for the week was 1,206 metres. No significant shows were encountered and the well will be plugged and abandoned. Silvereye-1 was an exploration well located [...]
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AWE Limited reports that at 0900 hours today, the Silvereye-1 exploration well was at a depth of 1,112 metres and preparing to drill ahead in 12-1/4” hole after running 13-3/8” casing. Progress for the week was 972 metres. Silvereye-1 is an exploration well located in the offshore Bass Basin within exploration permit T/44P. The well [...]
AWE Limited advises that it has today entered into an Executive Services Agreement to appoint Mr Bruce Clement as its Managing Director effective February, 2011. AWE’s current Managing Director, Mr Bruce Wood, will continue to act in his current capacity until Mr Clement assumes his position to ensure a smooth transition of executive power. Mr [...]
AWE Limited is pleased to report that the Pateke-3H well has successfully recommenced production over the weekend, after initial efforts to restart the well were delayed due to technical issues following the workover of the well. The Pateke-3H well is currently flowing at over 4,000 bopd with some “flush” production being achieved from the well [...]
AWE Limited, on behalf of the Tui joint venture parties, announced the resumption of oil production from the Pateke-3H well, located in the offshore Taranaki Basin. The Pateke-3H well suffered from problems with the artificial lift system, and the well has been shut-in since late June, 2010. A workover of the well has been successfully [...]
