Oil and gas producer AWE Limited (ASX:AWE) has been awarded a new six year exploration permit offshore Western Australia.
The company will hold 100 per cent equity in WA-497-P which is located in the Exmouth Sub-basin of the North Carnarvon Basin.
AWE says the permit contains a number of interesting prospects that complement the company’s strength in sub-surface appraisal and early stage development.
The company has also advised it is actively evaluating opportunities in Australia, New Zealand and Indonesia.
AWE reported a net profit of $81.7 million in the first half of the 2014 financial year.
