Oil and gas explorer AWE Limited
(ASX:AWE) has continued its momentum with a strong financial and operational performance in its third quarter.
The cashed up explorer produced strong sales revenue of $93 million for the 3 months resulting in year to date revenue of $268 million, a 21 per cent jump on the same 9 month period last year.
Production is tracking towards the upper end of guidance for the full year and all projects are on or ahead of schedule.
AWE recently announced it had been awarded an exploration permit in Western Australia’s North Carnarvon Basin which it believes holds high exploration potential and the company is on track for its projected growth plans.
AWE produced a net profit of $87.7 million for the half year ended 31 December 2013.
