AWE sells asset to Petsec

Company News

Oil and gas producer AWE Limited (ASX:AWE) has agreed to sell a portion of an oil asset in Yemen to Petsec Energy Limited (ASX:PSA).
 
Petsec will acquire AWE’s 21.25 per cent participating interest in the Block 7, an onshore exploration permit operated by Oil Search Limited (ASX:OSH)
 
While the agreement is still subject to approvals AWE is set to receive $US1 million as part of the terms.   
 
AWE reported a net profit of $81.7 million in the first half of the 2014 financial year. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.