AWE is an Australian oil and gas exploration and production company listed on the Australian Stock Exchange (ASX).
The company was formed to appraise oil and gas discoveries in its initial asset portfolio and to build a significant international petroleum exploration and development entity through further international asset acquisitions.
AWE's focus is on exploration and appraisal-type assets, in regions of proven prospectivity and where there is a high chance of commercial success. This focus includes currently marginal fields, whose worth may be improved by innovative appraisal and development approaches.
Following the merger with ARC Energy in August 2008, AWE gained additional equity in the BassGas and Cliff Head projects and further production interests in the onshore Perth Basin. AWE also added equity interests in some prospective exploration permits and shareholdings in the listed oil and gas explorers, Buru Energy Limited (AWE 13%) and Adelphi Energy Limited (AWE 34%).
AWE currently has five main producing assets:
Tui oil fields - offshore Taranaki basin, New Zealand (AWE 42.5% operator)
BassGas project - offshore Bass Strait, Tasmania (AWE 57.5%)
Cliff Head oil field - offshore Perth basin, Western Australia (AWE 57.5%)
Casino gas field - offshore Otway basin, Victoria (AWE 25%)
Onshore Perth Basin interests, Western Australia (AWE 33-100%)
Onshore US shale gas, Texas (AWE10%)
In addition to its oil and gas producing assets AWE has a number of exploration opportunities both in Australia and overseas.