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ananda77
08-06-2005, 04:36 PM
Friday 6-8-2004: ADI up-x NDI

Monday 6-6-2005: ADI up-x NDI

http://img.villagephotos.com/p/2004-12/905046/AWE.gif

ananda77
15-06-2005, 02:08 PM
awe-update: stoploss @.928

http://img.villagephotos.com/p/2004-12/905046/awe2.gif

zac
12-09-2005, 05:04 PM
AUSTRALIAN WORLDWIDE EXPLORATION LIMITED
ASX Announcement
September 12, 2005 AWE to acquire 90% of
Indonesian LPG project and undertake a Share Placement Indonesian LPG Extraction Plant
Australian Worldwide Exploration Limited, on behalf of its wholly-owned subsidiary AWE
Singapore Pte Ltd (“AWE”), advises that it has signed a conditional Heads of Agreement (“HOA”) with the owners of PT Ogspiras Basya Pratama (“OBP”) for the acquisition of a 90% interest in OBP. The HOA is subject to completion of final due diligence including regulatory approvals.
Upon completion of the transaction, AWE will acquire a 90% equity interest in OBP by
funding 100% of the remaining capital expenditure on the Kilang LPG Extraction Plant located near Palembang in South Sumatra, onshore Indonesia (“LPG Project”) (see figure 1). The LPG Project is currently under construction. AWE is budgeting A$30 million (up until first production at the end of 2006) to set-up its Indonesian operation and complete the remaining construction activities on the LPG plant.
“Our participation in the Indonesian LPG Project is AWE’s first significant investment
outside our traditional Australian and New Zealand core asset area and comes after
rigorous evaluation of the risks versus reward scenarios. The LPG Project and its potential
for further expansion beyond the initial base case scenario may provide AWE with a fifth
cornerstone asset area” said AWE Managing Director, Mr Bruce Phillips.
“On a conservative view of LPG and liquid prices, AWE will achieve its targeted rate of
return on the initial stage of the LPG Project. Considerable upside can be envisaged on the
basis of sustained higher product prices or through an expansion of the project throughput”,
commented Mr Phillips. By way of background on OBP and the LPG Project: • AWE will acquire a 90% shareholding in OBP by funding 100% of the remaining capital expenditure on the LPG Project, subject to the completion of final due
diligence and regulatory approvals. The remaining 10% equity will be held by an Indonesian partner who has already contributed 10% of the total capex for the LPG Project.
• AWE and its Indonesian partner have also agreed to pursue further mutually
beneficial transactions in Indonesia, subject to AWE’s normal investment criteria.
• OBP has negotiated a 15 year gas purchase agreement with Pertamina, the
Indonesian national oil company, to provide the required raw feed-gas for the LPG
Extraction Plant.
• OBP will retain the rights to all liquids extracted from the plant and has the
necessary rights to sell the liquid products domestically and/or internationally.
• The LPG Project site is adjacent to Pertamina’s major South Sumatran gas pipelines, which currently transmit in excess of 250mmcf of gas per day, and is therefore suitably placed for the receipt of raw feed-gas.
• The LPG Project will be operated by OBP, who in turn has contracted PT WIN (and
Enerflex Systems Ltd, a leading supplier of products and services to the global
energy industry) to build the LPG Plant.
• Based on the contracted input flow rate of 60 million cubic feet of raw feed-gas per
day over the 15 year project life, gross liquid sales form the LPG Extraction Plant
are estimated to be in excess of 1.6 million barrels plus over 500,000 tonnes of
LPG.
• On the assumed product prices, the project will generate gross revenues for AWE
in excess of US$230 million over the life of the project.
Share Placement
AWE will fund the Indonesian project acquisition via a Placement of ordinary shares.
The Placement will also assist in funding other projects and developments for the
Company.
The Placement will raise approximately $120 million and the final pricing of the
placement will be determined via a book-build process to be finalised on 13 September
2005. The placement shares will be issued subject to shareholder approval at the
general meeting of AWE shareholders to be held on or about 19 October 2005.
The Placement is being underwritten by Macq

nelehdine
13-09-2005, 05:43 AM
Would have thought the last sentence would put a lid on the SP for a while ....

OldRider
13-09-2005, 07:09 AM
I think this might be the third SPP AWE has made over the last 4-5 years, so it has been a steady raiser of cash. Share price has moved from round 80c then to over $2.10 lately, so has been a profitable hold over this time, and for me has grown from a small beginning, after taking up each offer, into a reasonable holding.

I can't recall another example of such a long time - 5 months - between record and offer date.

whatsup
13-09-2005, 12:15 PM
Any new news?

tsb
29-06-2007, 04:44 PM
to many threads - this seems to be the main one
interesting reading the pricesa couple of years ago.
AWE hit a high of $3.78 todays as it marches on towards its broker recomendation of $4.00

Wonder what it will achieve when Tui stats pumping in a week or so?

tsb
16-08-2007, 03:14 PM
AWE’s Tui Area Oil Project opened by
New Zealand’s Prime Minister Clark and
sends first oil shipment to refineries
The Tui Area Oil Project was officially opened by New Zealand’s Prime Minister Helen Clark
earlier today at a ceremony in New Plymouth.
The ceremony coincided with AWE Ltd completing the first lifting of crude oil from the
project.
On Thursday August 16, a cargo of approximately 300,000 barrels of high quality Tui crude
was transferred from the Floating Production Storage & Offloading (FPSO) vessel, Umuroa,
to the tanker Akama for shipment to refineries in Sydney and Brisbane operated by Caltex
Australia.
The Akama has been chartered on a long-term basis and is dedicated to the transportation
of Tui crude oil.
AWE Ltd’s Tui Area Oil Project, offshore New Zealand’s Taranaki coast, started production
on July 30, 2007.
Commissioning of the Tui Area production wells and subsea systems has progressed
without incident and three of the four wells are now on line, with a combined estimated
production capacity in excess of 90,000 bopd.
The fourth well is expected to be available when required to maintain maximum production.
A stable crude oil flow rate of up to 42,000 bopd has been achieved through the FPSO. As
expected during project commissioning, production has been slightly constrained by the
FPSO topsides facility, which is designed to handle a maximum 50,000 bopd.
However system uptime is improving quickly as experience in operating the new facility is
gained. Some minor process de-bottlenecking is being implemented which is expected to
allow the full design production rate to be achieved within the next few weeks.
Preliminary testing of samples taken from the production wells suggest the oil properties
and quality are in line with pre-production expectations.

peterb
11-10-2007, 06:38 PM
AWE’s Kopuwai-1 drilling update
AWE Ltd (“AWE”) reports that the Kopuwai-1 well is at a depth of 3,876 m. Current
activity is pulling out to change the bit.
Since the last report, the well has been drilled from 2,310 metres to 3,876 metres. Oil
shows were encountered in the Kapuni F Sand over the interval 3,655 to 3,690
metres, but the logs recorded while drilling indicate that the sandstone beds are either
poor quality or finely interbedded over this interval.
Once the well reaches total depth of approximately 4,050 metres, wireline logs will be
run in order to assess the economic significance of the F Sand interval.
Kopuwai-1 is in New Zealand’s western Taranaki basin in PEP 38482, approximately
10 kilometres north of the Tui Area oil project in 125 metres of water.


Any oiler types got any opinion about this announcement? In my opinion this is an important drill for the NZ oil industry: AWE have been giving momentum to Taranaki exploration and if all of their wells came up dry (this being the last in an aggressive series) then companies will be seriously turned off committing to the escalating price of hiring rigs. Perhaps a subeconomic show at Kopuwai will be enough to keep the faith?

trackers
22-11-2007, 12:29 PM
Surprised AWE hasn't moved more today considering they just announced 30% increased reserves of the TUI oilfied which they own 42.5% of!




ASX Announcement

November 22, 2007

Reserves increase by 30% at
AWE’s Tui Area Oil Project

AWE, as Operator of the Tui Area Oil Project, has undertaken a reserve review which
has resulted in an increased estimate of oil reserves at Tui by 30% to 41.7 million
barrels.
This compares with reserves of 27.9 million barrels on which the Tui Area Oil Project
was originally developed and an interim estimate of 32 million barrels, following the
completion of the development drilling campaign.

The increase in proved and probable (2P) reserves is based on interpretation of re-processed
3D seismic, a more detailed assessment of the Kapuni reservoir and the integration of the
production data from the fields since production began on July 30, 2007.
The increased reserves assume production from the existing four wells, plus the completion
of an additional development well in the Tui oil field, Tui-4H. Preliminary planning for the
drilling of this well has begun.

Oil Production Rates

Since the start of production on July 30, 2007, the Tui Area Oil Project has produced
approximately 4.4 million barrels of oil.

Recent production rates of up to 50,000 barrels a day have been achieved, with the current
well capacity still substantially higher than the processing capacity of the FPSO Umuroa.
Water is being produced from the field, but at substantially lower rates than expected from
earlier field simulations.

Based on the current reservoir and facility performance and this upgrade in 2P oil
reserves, AWE has revised the Tui gross oil production target for the year to June
2008 from 10 million barrels to approximately 11 million barrels.
AWE’s managing director Mr Bruce Wood said:

“The increase in 2P oil reserves is a great outcome for the Tui Joint venture.
“To have increased the reserves by almost 50 per cent since the start of production is an
outstanding achievement.
“The Tui Area Oil Project will deliver strong returns for AWE shareholders for the long term.”

Participants in PMP 38158 are:
AWE * (Operator) 42.5%

Mitsui E & P Australia Pty Ltd 35.0%
Stewart Petroleum Company Ltd (“New Zealand Oil & Gas”) 12.5%
WM Petroleum Ltd (“Pan Pacific Petroleum NL”) 10.0%
* New Zealand Overseas Petroleum Pty Ltd (22.5%)

Bilo
22-11-2007, 09:25 PM
The AGM

From the released material, the AWE guys showed themselves up again by saying nothing, disclosing nothing new, playing the AGM tight to their chests, wasting the opportunity to inform their shareholders of the really good work that is being done, but still asking permission to saunter up to the trough for a top up of share options for management - after buying peace with the surprisingly timely (but early) announcement of the Tui reserve upgrade. What a farce these AGMs are becoming - or have they always been like this? Some put this behaviour down to operator privilege - I put it down to communication failure. How long will it be before the new AWE CEO moves out?

Bilo
22-11-2007, 09:26 PM
P.S. Did anyone attend the AGM who is prepared to share their thoughts?

bermuda
22-11-2007, 10:49 PM
Bilo,
I have met a lot of these CEO's

Bruce Phillips took my eye. Raw talent. I mean this guy has taken AWE into new territory. AWE will shortly have so much cash that buybacks will be compulsory. And no one can see it . Same with NZO.

Tony Radford unbelievable Man this guy is cool but market unsaavy,. hence the sentiment

Rick Webber austral pacific. Sorry Rick

Matt Simmonds No one believes him. I do .

I want to go to brisbane next Wednesday just to see Ron Prefontaine's eyes.

I believe his story BOW...man , this could really rock...and good luck to him. Very experienced and has avery good plan....and has learnt from a few mistakes (minor )

Bilo
23-11-2007, 10:03 AM
Bilo,
Bruce Phillips took my eye. Raw talent. I mean this guy has taken AWE into new territory. AWE will shortly have so much cash that buybacks will be compulsory. And no one can see it . Same with NZO.


Bermuda, Bruce Phillips left on September 1 - talented enough to realise that there are more things in his life than making heaps of money. Bruce Woods has taken over - hence my comment - I thought BWs past experience is closer to dealing in oil companies than understanding geology.

bermuda
23-11-2007, 10:31 AM
Bermuda, Bruce Phillips left on September 1 - talented enough to realise that there are more things in his life than making heaps of money. Bruce Woods has taken over - hence my comment - I thought BWs past experience is closer to dealing in oil companies than understanding geology.

I realise that BP has left.

I met him 2 years ago He had a lot of things to say, some of which cannot be repeated here. I dont know what he is up to now but good luck to him. He brought AWE to where it is today. He was one smart MD for AWE.

AWE is going to have so much cash that buybacks will be out in force.

NZO will be in the same boat but I am picking Radford will want dividends.

zorba
14-01-2008, 02:41 PM
.
Markets in turmoil but AWE moving up ...... currently 359, hit 364 earlier on the ASX

BHP also moving up ......

BHP takeover bid on AWE to compliment their GOM oil interests ??

Lizard
14-01-2008, 02:43 PM
More likely in anticipation of some nice numbers in the upcoming quarterly.

whiteheron
14-01-2008, 04:51 PM
Yes, nice to see Liz

Showing strength whilst everything else is stumbling all over the place ---the only green on my Watchlist today

This year looks like having many stumbles as it works its way through
I dont see it matching 2007 in general
To do well good stockpicking will be vitally essential, but not easy

zac
19-03-2008, 04:08 PM
Off the wire:

Australian Worldwide Exploration Ltd (ASX: AWE.ax) rose 6.9 percent today to A$3.24.

The firm said its key Tui oil project in New Zealand is set to produce its 10 millionth barrel of crude oil this week.

AWE also revised its fiscal 2008 oil production target for Tui to 13 million barrels. It had said on Jan. 31 gross oil production from Tui fields was likely to exceed 12 million barrels.

Lizard
19-03-2008, 08:57 PM
The encouraging gas shows on the current Lengo-1 drill in Indonesia may have made a contribution to the price today too. :)

SEC
10-04-2008, 08:45 PM
Encouraging finish for AWE today.

It it finally going to break through some stiff $3.70 resistance that it has reached 5 times in the past year? If so, watch AWE to rapidly break through $4 and beyond...

SEC

bermuda
11-04-2008, 07:31 AM
Encouraging finish for AWE today.

It it finally going to break through some stiff $3.70 resistance that it has reached 5 times in the past year? If so, watch AWE to rapidly break through $4 and beyond...

SEC

AWE, a licence to print money.

macduffy
11-04-2008, 07:44 AM
AWE, a licence to print money.

I hope so!
As a long time holder of AWE I've always been a bit puzzled why, with 42.5% of Tui, the SP seems to be a bit sluggish compared with NZO. Entirely different companies of course - but nevertheless!

;)

the machine
12-04-2008, 12:28 AM
Lengo-1 is taking a very long time for further news.

although watched awe for many years finally bought in april 07 - 2,000 @ $2.78.

looking forward to big news from lengo-1 and of course the quarterly should attract a lot of attention re tui.

M

SEC
14-04-2008, 08:55 AM
Encouraging finish for AWE today.

It it finally going to break through some stiff $3.70 resistance that it has reached 5 times in the past year? If so, watch AWE to rapidly break through $4 and beyond...

SEC

Very unlikely to break $3.70 anytime soon unfortunately, looks as if it's made a friendly bid for ARQ.

SEC

Huang Chung
14-04-2008, 10:46 AM
Apparently $1.58 per ARQ share.

Trading halts in the next quarter of an hour?????

tricha
14-04-2008, 08:00 PM
Apparently $1.58 per ARQ share.

Trading halts in the next quarter of an hour?????

Great news for ARQ and a great time to buy some AWE shares, management costs will be nearly halved between the two companies and AED will have the brains to get full value from ARQ's shares.:)

Bring it on

Huang Chung
14-04-2008, 08:06 PM
Great news for ARQ and a great time to buy some AWE shares, management costs will be nearly halved between the two companies and AED will have the brains to get full value from ARQ's shares.:)

Bring it on

Settle T.....don't you mean AWE? :D

tricha
14-04-2008, 08:43 PM
Settle T.....don't you mean AWE? :D

Absolutely Huang, AWE for awesome,

My calculator says AWE are pulling in 2.468 million dollars a day @ US $110 a barrel x 18700 barrels a day x ( 1.20 the NZ dollar )


AUSTRALIAN WORLDWIDE EXPLORATION LIMITED

ABN 70 077 897 440

Level 9, 60 Miller Street, North Sydney, NSW, 2060, Australia.
PO Box 733, North Sydney, NSW, 2059, Australia
Telephone: + 61 2 9460 0165 �� E-mail: awexp@awexp.com.au
Facsimile: + 61 2 9460 0176 �� Website: www.awexp.com.au

ASX Announcement

March 19, 2008

Tui set to produce 10 millionth barrel

The 10 millionth barrel of crude oil to be produced from AWE Ltd’s highly
successful Tui oil fields, off the coast of New Zealand, is expected to flow this
week.
The production milestone comes after less than 8 months of oil production from
the field, which first flowed commercial oil on July 30 last year.
Tui, in the Taranaki basin area off the south west coast of NZ’s North Island is
currently the country’s largest oil producer.
Tui is AWE’s flagship operation with gross production in the most recent month of
February averaging 44,000 barrels of oil per day (bopd).
Since the start of production a total of 30 shipments of crude oil have been lifted,
with the 31st lifting scheduled for the today.

The strong field performance since the start of production has encouraged
AWE to revise the Tui project’s oil production target for the year to June 30,
2008 to 13 million barrels.
Based on the continued performance of the reservoirs, AWE is initiating a
further reserves review of the fields. This is expected to be completed by
the end of June, 2008.

Earlier, AWE had increased the fields proved and probable (2P) reserves originally
estimated at 26.8 million barrels to 41.7 million barrels.
Associated water is being produced from the field, but currently at lower rates than
expected from original field simulation models.

Commenting on the milestone, AWE managing director, Bruce Wood, said,

“The performance of Tui has been exceptional and has quickly become this company’s
cornerstone asset. We would expect the offshore Taranaki basin area to remain a key area for
AWE into the future.
“There remains strong upside potential in the offshore Taranaki region and AWE is committed
to continuing our exploration in the region.
“But Tui is only one component in AWE’s growth story.
“The company has a number of growth projects in its sights in the Perth, Otway and Bass
basins in Australia and we are constantly assessing potential opportunities to increase
shareholder value.
“We have a very strong balance sheet, very strong cash flow and we remain debt free. This is
an ideal combination in the present market circumstances to allow us to capitalise on any
value creating opportunity we identify.”

Participants in PMP 38158 and the Tui Area Oil Project are:
AWE (Operator) 42.5%

Mitsui E & P Australia Pty Ltd 35.0%
Stewart Petroleum Company Ltd (“New Zealand Oil & Gas”) 12.5%
WM Petroleum Ltd (“Pan Pacific Petroleum NL”) 10.0%

For further information please contact:
Bruce Wood
Managing Director
Australian Worldwide Exploration Limited
Phone: 02 9460 0165
Or For Media Enquiries
Garry Marsden Ian Howarth
Corporate Development Manager Farrington National
Australian Worldwide Exploration Limited Phone: 03 9223 2465
Phone: 02 9460 0165 or 0407 822 319

tricha
14-04-2008, 08:51 PM
Oh, forgot to do a 3 monthly fiqure.

Say 2 million a day profit !

And they are about to take out ARQ which is dirt cheap, probably 100% under valued, hmm, food for thought.

But here is the beauty, AWE is owned by fund managers, where is the tiger shark:D

zac
15-04-2008, 09:02 AM
AWE could do worse than have a crack at NZO. They are familiar with the whole operation.

tricha
15-04-2008, 06:34 PM
AWE could do worse than have a crack at NZO. They are familiar with the whole operation.

Hmm NZO would be nice, but ARQ is dirt cheap and with the right management their assets will fly. Is NZO dirt cheap ?, I own some, I have an uneducated guess and I would say worth $2.00 +

Very interesting to see who they will knock over, or will they get knocked over by someone like Santos. :rolleyes: ( cost them $5 a share at the least)

bermuda
15-04-2008, 07:49 PM
Hmm NZO would be nice, but ARQ is dirt cheap and with the right management their assets will fly. Is NZO dirt cheap ?, I own some, I have an uneducated guess and I would say worth $2.00 +

Very interesting to see who they will knock over, or will they get knocked over by someone like Santos. :rolleyes: ( cost them $5 a share at the least)

Yep, there is going to be a lot of merger and aquisition going on in the next 24 months...and more.

tricha
16-04-2008, 07:53 PM
Yep, there is going to be a lot of merger and aquisition going on in the next 24 months...and more.

Yep both GOG and DLS in trading halt today and around the same time, merger ?

AWE right on CUE, re-rated very quickly up after ARQ announcement and heaps left to go on the back of TUI,

the machine
18-04-2008, 10:04 AM
last update from lengo-1 was 3 weeks ago - basis no news is good news then can only wait and hope that the news will be very good.

one wonders what awe have been doing with all their tui income - adding value / looking to add value to shareholders one would hope.

not long to the quarterly when some very good numbers will be presented

M

SEC
18-04-2008, 08:13 PM
Encouraging finish for AWE today.

It it finally going to break through some stiff $3.70 resistance that it has reached 5 times in the past year? If so, watch AWE to rapidly break through $4 and beyond...

SEC

Hit $3.70 today for the 6th time within a year. Not bad to get back to this level given the negativity re ARQ takeover but yet again it retreated once it hit $3.70. Hopefully the quarterly report will give AWE the momentum to move beyond decisively beyond $3.70. Get ready.

SEC

Dr_Who
19-04-2008, 12:05 AM
Huge resistance at $3.60-3.70. AWE is definitely on my watch list. Looks cheap on fundamentals, but sp seems to lack constantly behind.

bermuda
19-04-2008, 12:07 AM
AWE, a licence to print money.


Thought I had better repeat it.

the machine
19-04-2008, 12:12 AM
Huge resistance at $3.60-3.70. AWE is definitely on my watch list. Looks cheap on fundamentals, but sp seems to lack constantly behind.

think somebody posted that a lot of institutions are on the share register, so todays drop could be linked to holding cash over the weekend.

the chart shows no significant change in sp volume, however the peak prices are climbing.

At risk of repeating myself, Lengo-1 result and/or the quarterly will push sp higher, whatever comes first.

M

the machine
19-04-2008, 06:12 PM
as tui should have produced over 11.75m barrels by cob april 30, then stand by for a production forecast upgrade until june 30 of probably just the extra 1m barrels for now, taking forecast to 14m barrels, although come june 30 the final production may be about 14.5m barrels.

expect the upgrade forecast to be included in the quarterly report as something that has occurred after march 31

for awe that equates to, by the way we expect to produce extra usd$42m in may/june above previous forecast [before tax etc]

hohum,whats usd$42m between friends?

mr market may think otherwise and slap an extra 20c onto the sp

M

zac
24-04-2008, 12:44 PM
AWE and ARQ both in a trading halt. Probably to confirm they are tying the knot.

zac
24-04-2008, 12:49 PM
off the wire:
AWE to buy Arc Energy for $508m

Oil and gas producer Australian Worldwide Exploration is proposing to buy oil firm Arc Energy for $508 million in a cash and share deal, a source familiar with negotiations said.

``Its a cash and share deal which will value Arc at about $1.58 a share,'' said the source who declined to be identified because he was not authorised to speak on the matter.

Crypto Crude
24-04-2008, 01:11 PM
Zac,
ARQ last traded at $1.54 before trading halt...
Thats virtually no premium at all to last trades...
...
B,
tell AWE to keep printing money...
its not enough...
:cool:
.^sc

Dr_Who
24-04-2008, 01:13 PM
I am kicking myself not having any AWE in the portfolio. Its been on my watchlist for sometime, but just havnt got around to buying some. :confused:

zac
24-04-2008, 02:08 PM
I am disappointed myself at the lack of premium. ARQ is accepting less for shares than I paid for them. Hopefully ARQ shareholders will get AWE shares in lieu of cash at a discount to todays price. I have been a long term shareholder of AWE (up 89% on cost) and would be very happy to add to my holding.

peterb
24-04-2008, 03:04 PM
Zac,
ARQ last traded at $1.54 before trading halt...
Thats virtually no premium at all to last trades...
...
B,
tell AWE to keep printing money...
its not enough...
:cool:
.^sc

Sorry but you're a bit wrong there mate. You have to take it from the close on the 13th of April, before the first announcement of a possibility of a tie-up. Then, they were hovering around $1.20, so this represents a %30 appreciation

macduffy
24-04-2008, 03:11 PM
30% sounds pretty fair to me. It's AWE that's getting all the cash from 42.5% of Tui!
Besides, I hold more AWE than I hold of ARQ!

;)

Crypto Crude
24-04-2008, 03:37 PM
peterb,
I could have worded that abit better...
yes, it is at a premium to its recent SP..
it is not at a premium to its real valuation and worth IMO...
I saw a research valuation report a few years back, by Carmichael... this report valued ARQ at $1.53 when oil was $40...
sure the report is a few years outdated now.... Oil is three times higher
A whole new beast is upon us, AWE have attacked in the right market
for a cheaper price...
AWE will likely steal this company at a discount but a premium if you know what I mean...
ARQ has great Strategic assets in Perth and Canning basin with drilling rig fulltime between the two....
Oil and Gas prices have outweighed ARQ's falling oil and gas reserves...
factor in future prices above what they are now...
I could be wrong, I think ARQ is worth more...
any views?
:cool:
.^sc

kura
24-04-2008, 05:02 PM
I see ARQ as being undervalued by the market, whereas AWE is simply trading at fair value.
I though fair value for ARQ was closer to $2

I hold ARQ as I saw its shares as being cheap, would I want to swap my shares in an undervalued Co for a fully valued company ? No thanks, I'd prefer cash !

macduffy
24-04-2008, 05:46 PM
As far as I can tell, it's only an assumption that this will be a share deal.
It could be that the AWE offer will be, at least partly, for cash.

;)

peterb
24-04-2008, 06:04 PM
AWE aren't going to hang around if ARQ shareholders play hard to get. If AWE backs out then the shares could easily fall back to where they were a few weeks ago. Its very hard to value companies like ARQ, because theres so much potential but not much substantial. In the market jitters we've been having, its the sort of projects that AWE are involved with that give investor confidence: the sort of things people valued ARQ for 12 months ago are a bit more nervously regarded by the market now. My disclosure- indirectly hold AWE, not keen on them buying some overpriced speccy - the price they've offered seems fair, and gives a good risk/reward balance. Unfortunately ARQ have been a bit more talk than results and they need some good management from something like AWE to realise potential.

Mick100
24-04-2008, 06:39 PM
I see ARQ as being undervalued by the market, whereas AWE is simply trading at fair value.
I though fair value for ARQ was closer to $2

I hold ARQ as I saw its shares as being cheap, would I want to swap my shares in an undervalued Co for a fully valued company ? No thanks, I'd prefer cash !

I agree kura

they are not getting my shares for under $2.00

COLIN
24-04-2008, 09:54 PM
I agree kura

they are not getting my shares for under $2.00

Nor mine. I bought them at 178 a couple of years ago and, although purchase price is irrelevant when considering current value, we only need to look at the vastly increased world oil prices now to realise that the company would be a steal at 158 - even allowing for ARC's need to augment their supply prospects.

the machine
24-04-2008, 10:17 PM
the deal is on the asx and looks pretty good for arq.

just hope awe are not paying to muchof a premium though

M

zac
25-04-2008, 10:33 AM
off the wire:

AWE buys Arc Energy

Oil and gas producer Australian Worldwide Exploration Ltd says it will buy oil firm Arc Energy Ltd , in a cash and share deal worth around $510 million.

In a separate statement, ARC Managing Director Eric Streitberg said a merger would "create a clear leader in the Australian mid-tier oil and gas sector", with a market capitalisation of more than $2 billion.

The deal is expected to lead to a new Australia-listed exploration vehicle, Buru Energy Ltd, that will hold ARC's Canning Basin assets in northwest Australia.

ARC shareholders will receive a combination of cash, AWE shares and Buru shares with an implied value of $1.59 per ARC share, at around 27 per cent premium to ARC shares on April 11 when the media reports surfaced on a possible deal.

Oil minnow Arc Energy said on April 14 it was in talks with AWE about a possible takeover. Shares in Arc had surged 45 per cent since then to close at $1.54 on Wednesday, before being put on a trading halt. AWE shares had closed up 3.3 per cent at $3.78.

The deal comes on the heels of a flurry of corporate activity in recent months, with junior oil and gas firms seeking mergers to boost production profiles amid rocketing oil prices, which struck an all-time high of $119.90 on Tuesday.

A merger between the two companies would give AWE more exposure to two projects in western and southern Australia in which both companies have stakes.

AWE, which has a market value of about $1.6 billion, has production assets in Australia, New Zealand and Argentina. It produced 4 million barrels of oil equivalent in 2007.

In February, AWE said a strong increase in revenue and cashflow on the back of robust production rates had left the company with a strong balance sheet and zero debt. It had cash reserves of $97.5 million as of end-2007.

Arc Energy has production assets in the Perth Basin off Western Australia and in the Bass Basin off Victoria. It also holds exploration licences on the onshore Canning Basin.

Arc Energy lost out in an attempt to mid-sized producer Nexus Energy Ltd buy oil producer Anzon Australia Ltd earlier this year.

Dr_Who
25-04-2008, 01:17 PM
Hold onto your seat guys. It seems like there will be much more M&A in this sector and it is very exciting times indeed.

zac
25-04-2008, 01:28 PM
Note that by taking out ARQ, AWE has aquired territory it is familiar with. NZO next?

tricha
25-04-2008, 02:10 PM
Note that by taking out ARQ, AWE has aquired territory it is familiar with. NZO next?

Who knows who is next, but they will have an impressive future if they complete the ARQ deal, these guys are onto it.;)

kura
25-04-2008, 06:32 PM
I just had a look at the broker reports on the ARQ website, the latest one (April) was from Hartleys, their valuation was $1.70 based on "core" assets of $1.25

Sure other brokers valuations are expected to be different, I admit to just looking at the latest brokers report (pre takeover announcement) for an indication of value. (My own thinking was $2 )

I just can't understand how ARQ directors could recommend this deal @ $1.50 odd !!!!

I will be interested to see how ARQ share price reacts on Monday, as my initial inclination is to to quit my ARQ shares in disgust.

Though could be tempted to put a few speculative dollars in Buru, assuming takeover goes ahead.

PS: AWE is still a great company, don't get me wrong on that front, all I will say about AWE, is that it don't fit into my personal investment strategy of focusing on undervalued companies.

SEC
27-04-2008, 11:15 PM
I see ARQ as being undervalued by the market, whereas AWE is simply trading at fair value.

How do you come to that conclusion?

AWE trades at a lower PE than ARQ, has a similar reserve life to ARQ, and in recent times is more likely to meet/exceed production targets than ARQ.

With this being a friendly takeover those waiting for ARQ to reach $2 before selling will most likely be disappointed.

SEC

stevieb
28-04-2008, 12:50 PM
ARQ at 1.42 down 7.5% on a day that it theorectically good for oil.

Looks to me like neither parties shareholders likes it! Could be hard to get it up!

tricha
28-04-2008, 08:09 PM
ARQ at 1.42 down 7.5% on a day that it theorectically good for oil.

Looks to me like neither parties shareholders likes it! Could be hard to get it up!

Wait and see the quarterly, :rolleyes: , we might be pleasently surprised.

macduffy
29-04-2008, 08:04 AM
Yes, considering the production from Tui and the Tapis price this last quarter, it should be a beauty!
I still think the market doesn't give AWE enough credit for its 42.5% of Tui.

;)

Toulouse - Luzern
29-04-2008, 04:07 PM
Hi MacDuffy,

The NZOG bar charts in NZOG website set out clearly how Tui actual production has exceeded estimates over the past few months.

If its good for NZOG then it is 4.25 times better for AWE.

PS: I did a ROAR analysis on the SAP 200 to identify portfolio changes.

AWE was #12 stock with 28%.

Energy stocks were 4, 5, 9, 10, and 12.

Excludes BHP - materials.

AWE may miss out if investors limit exposure to 3 or 4 SAP 200 Energy stocks.

Viking
05-05-2008, 04:43 PM
Hi MacDuffy,

The NZOG bar charts in NZOG website set out clearly how Tui actual production has exceeded estimates over the past few months.

If its good for NZOG then it is 4.25 times better for AWE.

PS: I did a ROAR analysis on the SAP 200 to identify portfolio changes.

AWE was #12 stock with 28%.

Energy stocks were 4, 5, 9, 10, and 12.

Excludes BHP - materials.

AWE may miss out if investors limit exposure to 3 or 4 SAP 200 Energy stocks.


T-L,

I think your message has just got through to the market~
We are hitting 52week high today! :D

If I am not mistaken, this $3.93should be the record high~ and closing on the $4 mark~

bermuda
05-05-2008, 05:44 PM
T-L,

I think your message has just got through to the market~
We are hitting 52week high today! :D

If I am not mistaken, this $3.93should be the record high~ and closing on the $4 mark~

As I have said before

AWE, a licence to print money. Well done shareholders.

Toulouse - Luzern
05-05-2008, 08:10 PM
Thanks Viking and Bermuda

... the great thing is when you get a 52 week high everyone in the stock is a winner...

Dr_Who
05-05-2008, 08:15 PM
This is one stock I have on my watch list I missed out on. Been buying so many aussie oilers and miners I forgot about AWE. Simply just missed out. Hitting myself on this one. Oh well, you cant win them all.

Good trading AWE holders :)

Gofish.
05-05-2008, 08:24 PM
And it was down to $3.00 as recently as March.
$4+ is where the sp belongs.
Happy to be holding from 75c.

Viking
06-05-2008, 03:59 PM
AWE hit $4 today~ let's hope it will stay above $4 from now~
hopefully the chartist will find a support line some times later in this level~

tricha
06-05-2008, 06:45 PM
U heard it here 1st.

They have announced their intentions and ARQ is the 1st.

Who will be number 2 ?, NXS threw in the towel with ANZON, but NXS has its own field to develope, will need all the cash it can get, AWE is cashed up, raking in the coin and is now much better postioned to take advantage of a cheap swoop on ANZON, now the price has plummeted.

The news out today is very good for ANZON :p

Also can can sneak in from the back door and pick up 66 million cheap NXS shares.


Anzon Australia Limited ABN: 46 107 406 771 Level 13, 90 Arthur Street, North Sydney, NSW 2060, Australia T: + 61 2 9024 3555 F: +61 2 9024 3535 E: aza@anzon.com.au Web: www.anzon.com.au 6 May 2008
The Manager, Companies
Australian Stock Exchange Ltd
Electronic Announcement System
Dear Sir,

ANZON AUSTRALIA LIMITED (ASX CODE: AZA)
ANNOUNCEMENT TO THE ASX
BASKER 6 ST1 OUTSTANDING PRODUCTION TEST
Please refer attached ASX Release.

Yours sincerely,
Tony J Strasser
Company Secretary

Anzon Australia Limited ABN: 46 107 406 771 Level 13, 90 Arthur Street, North Sydney, NSW 2060, Australia T: + 61 2 9024 3555 F: +61 2 9024 3535 E: aza@anzon.com.au Web: www.anzon.com.au

ASX RELEASE
6 May 2008

ANZON AUSTRALIA LIMITED (ASX CODE: AZA)
BASKER 6 ST1 WELL – OUTSTANDING PRODUCTION TEST
The Basker 6 ST1 well, last night conducted its third and final production test over zone 2 and 7 with outstanding results. The well flowed at a stable rate of 4800 bpd at a gas-oil ratio (GOR) of 1060 scf/bbl, and zero water.
This concludes testing over three zones at an aggregate oil rate of in excess of nearly 13,000 bpd and average gas rates far more favorable than expected. The well’s production rates are far higher than the Joint Venture expected and have supported the existence of the significant south eastern extension to the Basker field with field-wide reservoir sands Moreover the lower GOR’s will enable the total oil rate to be substantially higher from the gas-constrained ‘Crystal Ocean ‘ FPSO facility, once the well is connected via its 5500m flow-line in July 2008.
The Ocean Patriot drilling rig is now conducting well suspension activities.
The participants in the Basker-Manta Joint Venture are:
Anzon Australia Limited 40% (Operator)
Beach Petroleum Limited 30%
CIECO Exploration and Production (Australia) Pty Ltd 20%
Sojitz Energy Australia Pty Ltd 10%
Andrew A. Young
Managing Director
Sydney, Australia

SEC
06-05-2008, 09:30 PM
Hit $3.70 today for the 6th time within a year. Not bad to get back to this level given the negativity re ARQ takeover but yet again it retreated once it hit $3.70. Hopefully the quarterly report will give AWE the momentum to move beyond decisively beyond $3.70. Get ready.

SEC

Looks like the quarterly report did indeed give the impetus for AWE to finally definitively crack the $3.70 mark. Next resistance point approx $4.10 but given AWE's fundamentals and trading at a significant discount to its peers (trading at forward PE 10 or less over the next three years based on oil prices well below current prices) there is plenty of upside beyond $4.10.

SEC

Viking
06-05-2008, 10:54 PM
U heard it here 1st.

They have announced their intentions and ARQ is the 1st.

Who will be number 2 ?, NXS threw in the towel with ANZON, but NXS has its own field to develope, will need all the cash it can get, AWE is cashed up, raking in the coin and is now much better postioned to take advantage of a cheap swoop on ANZON, now the price has plummeted.

The news out today is very good for ANZON :p

Also can can sneak in from the back door and pick up 66 million cheap NXS shares.


Anzon Australia Limited ABN: 46 107 406 771 Level 13, 90 Arthur Street, North Sydney, NSW 2060, Australia T: + 61 2 9024 3555 F: +61 2 9024 3535 E: aza@anzon.com.au Web: www.anzon.com.au 6 May 2008
The Manager, Companies
Australian Stock Exchange Ltd
Electronic Announcement System
Dear Sir,

ANZON AUSTRALIA LIMITED (ASX CODE: AZA)
ANNOUNCEMENT TO THE ASX
BASKER 6 ST1 OUTSTANDING PRODUCTION TEST
Please refer attached ASX Release.

Yours sincerely,
Tony J Strasser
Company Secretary

Anzon Australia Limited ABN: 46 107 406 771 Level 13, 90 Arthur Street, North Sydney, NSW 2060, Australia T: + 61 2 9024 3555 F: +61 2 9024 3535 E: aza@anzon.com.au Web: www.anzon.com.au

ASX RELEASE
6 May 2008

ANZON AUSTRALIA LIMITED (ASX CODE: AZA)
BASKER 6 ST1 WELL – OUTSTANDING PRODUCTION TEST
The Basker 6 ST1 well, last night conducted its third and final production test over zone 2 and 7 with outstanding results. The well flowed at a stable rate of 4800 bpd at a gas-oil ratio (GOR) of 1060 scf/bbl, and zero water.
This concludes testing over three zones at an aggregate oil rate of in excess of nearly 13,000 bpd and average gas rates far more favorable than expected. The well’s production rates are far higher than the Joint Venture expected and have supported the existence of the significant south eastern extension to the Basker field with field-wide reservoir sands Moreover the lower GOR’s will enable the total oil rate to be substantially higher from the gas-constrained ‘Crystal Ocean ‘ FPSO facility, once the well is connected via its 5500m flow-line in July 2008.
The Ocean Patriot drilling rig is now conducting well suspension activities.
The participants in the Basker-Manta Joint Venture are:
Anzon Australia Limited 40% (Operator)
Beach Petroleum Limited 30%
CIECO Exploration and Production (Australia) Pty Ltd 20%
Sojitz Energy Australia Pty Ltd 10%
Andrew A. Young
Managing Director
Sydney, Australia


:D :D Happy is he who hold both AZA and AWE~

the machine
07-05-2008, 11:25 PM
see awe have updated their website

M

Toulouse - Luzern
21-05-2008, 09:01 PM
Hi
Did anyone spot the 2.00PM spike today in AWE - to A$4.71.
Earlier in the day AWE was A$4.35 after the news of the Tui JV extension of the FPSO Charter.

It seems the FPSO news had a bigger effect for AWE in OZ (the spike) than on NZO on NZX or was it something else ...

I see AWE was up 10 cents at $4.32 at the close today compared with up 2 cents in NZ for NZO.

AWE.ASX and NZO.NZX are relative I guess as AWE has 42% of Tui and NZO 10% (ish).

But note that NZO on the ASX was only up today A$0.05. (???)

One thing the experts can comment on - I had some spare cash in $A and NZ$ and topped up NZO on ASX and the NZ on the same day 2 May 08.

I see that NZO.NZX is up 9 cents since and NZO.ASX is down 2 cents.

I did not expect that.

Comments anyone?

the machine
21-05-2008, 09:21 PM
Hi
Did anyone spot the 2.00PM spike today in AWE - to A$4.71.
Earlier in the day AWE was A$4.35 after the news of the Tui JV extension of the FPSO Charter.

It seems the FPSO news had a bigger effect for AWE in OZ (the spike) than on NZO on NZX or was it something else ...

I see AWE was up 10 cents at $4.32 at the close today compared with up 2 cents in NZ for NZO.

AWE.ASX and NZO.NZX are relative I guess as AWE has 42% of Tui and NZO 10% (ish).

But note that NZO on the ASX was only up today A$0.05. (???)

One thing the experts can comment on - I had some spare cash in $A and NZ$ and topped up NZO on ASX and the NZ on the same day 2 May 08.

I see that NZO.NZX is up 9 cents since and NZO.ASX is down 2 cents.

I did not expect that.

Comments anyone?


exchange rate is in play for one thing.
nz$ is unlikely to fall further against the aud$

nzo is big in nz - the second largest appreciation in value on nzx this year
plenty of press lately
in australia most would not have heard of nzo -who own 12.5% of tui

we did sell out of awe 2 weeks ago - pity

the choice was to sell awe or some nzo or some ppp [ppp have 10% of tui]

as for the spike, guess someone wanted in to complete a purchase, hence the short lived spike

maybe we should put 50,000 ppp up for 50c and see if that spikes once the tui reserves come in

am expecting the tui reserves upgrade to now add another 5+million barrels to beover 52 million.

after that then its only annual updates by mid june each year, intime for the annual reports




M

bermuda
21-05-2008, 09:24 PM
exchange rate is in play for one thing.
nz$ is unlikely to fall further against the aud$

nzo is big in nz - the second largest appreciation in value on nzx this year
plenty of press lately
in australia most would not have heard of nzo -who own 12.5% of tui

we did sell out of awe 2 weeks ago - pity

the choice was to sell awe or some nzo or some ppp [ppp have 10% of tui]

as for the spike, guess someone wanted in to complete a purchase, hence the short lived spike

maybe we should put 50,000 ppp up for 50c and see if that spikes once the tui reserves come in

am expecting the tui reserves upgrade to now add another 5+million barrels to beover 52 million.

after that then its only annual updates by mid june each year, intime for the annual reports




M


Dont own any , but a licence to print money...as I have said before....at a much lower price.

Viking
20-06-2008, 11:52 AM
What puzzles me is that~ the announcement to day should have been a good one for AWE~
but the SP is down 10c the moment~

Guess the market has expected this increase to be much higher then~
or was it something else ~

macduffy
20-06-2008, 11:58 AM
What puzzles me is that~ the announcement to day should have been a good one for AWE~
but the SP is down 10c the moment~

Guess the market has expected this increase to be much higher then~
or was it something else ~

I would say it was over-anticipation plus the small drop in the PoO last night.
It doesn't take much to spook this market!

:cool:

macduffy
07-02-2009, 11:44 AM
A pleasant surprise to receive the 10cps special div, complete with NZ Imputation Credit of around 20%!

:)

tricha
20-03-2009, 11:36 PM
Dont own any , but a licence to print money...as I have said before....at a much lower price.

WELL Bermuda, someone selling cheap AWE shares and I took them with open arms.

A bit like u and the NZO shares for Aderiane. Huge selling of late, someone is bailing and selling shares at a discount.:)

tricha
21-03-2009, 04:39 PM
Your bargain buy for only $2.35 a share.

This is a Warren Buffet type of bargain, value investing.

P2 reserves 69,000,000 Barrel $ Oil $40 = Value $2,760,000,000 Shares on issue 520,000,000 Oil Value per share $ 5.30 Cash $ 0.73.6 VALUE Price $6.03

AWE is an undervalued company, which is an easy 1 bagger

1 -Secured with buckets of cash, 383 million in the bank.

2 - income for many years to come with their P2 reserves, around 69 million barrels.

3 - No debt.

4 - Huge exploration upside, which is not even factored into the price of $6 value.


And heres a bonus, its a prime takeover contender. Someone is out there selling us cheap shares with very little risk ;)

http://www.stocknessmonster.com/news-item?S=AWE&E=ASX&N=541003

macduffy
21-03-2009, 04:53 PM
I pretty much agree, tricha, but it looks like the market is taking notice of the forecast production out to 2013 which shows a steady decline from about 10m boe pa to around 6m boe at that time.
And after all, it's an oil and gas explorer/producer with all the risk that that entails.

Disc; I hold.

:cool:

upside_umop
21-03-2009, 05:09 PM
ummm...tricha?


what about..
-taxes
-royalties
-production costs
-admin costs
-exploration costs
-time value of money (ie these barrels of oil are not going to be extracted all at once...you have to discount future barrels by a discount rate).

The calculation was a little too simplistic imo.

tricha
21-03-2009, 06:02 PM
ummm...tricha?


what about..
-taxes
-royalties
-production costs
-admin costs
-exploration costs
-time value of money (ie these barrels of oil are not going to be extracted all at once...you have to discount future barrels by a discount rate).

The calculation was a little too simplistic imo.

KIS.

Oil is $75 a barrel OZ, at todays price, I've allowed $40 for profit, $35 for costs.

Take time to read the link. They kept it KIS Upside_Umop http://www.stocknessmonster.com/news...E=ASX&N=541003 (http://www.stocknessmonster.com/news...E=ASX&N=541003)

Yes WELL I am in to Macduffy, bought 10K shares to start the ball rolling last Thursday. These guys are now on top of my short list. They have exceptional exploration upside due to their quality acreage.
The takeover of ARQ will start coming through in their numbers.

They have no major shareholder and I expect they will be on someones list;)

shasta
21-03-2009, 06:11 PM
KIS.

Oil is $75 a barrel OZ, at todays price, I've allowed $40 for profit, $35 for costs.

Take time to read the link. They kept it KIS Upside_Umop http://www.stocknessmonster.com/news...E=ASX&N=541003 (http://www.stocknessmonster.com/news...E=ASX&N=541003)

Yes WELL I am in to Macduffy, bought 10K shares to start the ball rolling last Thursday. These guys are now on top of my short list. They have exceptional exploration upside due to their quality acreage.
The takeover of ARQ will start coming through in their numbers.

They have no major shareholder and I expect they will be on someones list;)

Tricha

Didn't NZO recently state with oil around $NZ80/bbl, profit was ~$18/bbl

$A40/bbl profit seems a bit steep, bloody good if its right though!

However its the same kind of rough valuation the PPP fans use, so im confused as to why they would query yours!

I'd imagine STO would like AWE among others

upside_umop
21-03-2009, 06:48 PM
KIS = Keep it simple?

The link didn't work.

Thats very well (keep it simple) if the calculations were accurate and quoting Shasta 'profit per barrel for NZO at $80 was around $18' sounds a lot more accurate. Then discount any barrels in the future and you'll soon see the valuation will drop markedly. Ie, $18 profit per barrel in 10 years discounted back today at 10% only has a value of ~$7 which can attributable to valuation today. I know, I know...oil prices may rise, and they may fall...but this is just used as example.

You also have to remember, that their gas is not fetching the same price as oil in BOE.

I'm not saying AWE is not undervalued/overvalued/bargain etc...just that those figures are not the most representative.

shasta
21-03-2009, 07:38 PM
KIS = Keep it simple?

The link didn't work.

Thats very well (keep it simple) if the calculations were accurate and quoting Shasta 'profit per barrel for NZO at $80 was around $18' sounds a lot more accurate. Then discount any barrels in the future and you'll soon see the valuation will drop markedly. Ie, $18 profit per barrel in 10 years discounted back today at 10% only has a value of ~$7 which can attributable to valuation today. I know, I know...oil prices may rise, and they may fall...but this is just used as example.

You also have to remember, that their gas is not fetching the same price as oil in BOE.

I'm not saying AWE is not undervalued/overvalued/bargain etc...just that those figures are not the most representative.

Still AWE is cashed up, with no debt, & has decent stakes/operatorship in its key projects, along with exploration potential, close to existing known hydrocarbon bearing areas...

They may need to acquire someone else to stop them being acquired!

upside_umop
21-03-2009, 08:21 PM
Yes, they are cashed up..and with declining production curve they will need to acquire to keep production steady. It must be hard replacing Tui though, because it has been such an outstanding success. NZO would offer an addition to their production profile...so would PPP - we'll just have to wait and see.

tricha
22-03-2009, 12:59 AM
Yes, they are cashed up..and with declining production curve they will need to acquire to keep production steady. It must be hard replacing Tui though, because it has been such an outstanding success. NZO would offer an addition to their production profile...so would PPP - we'll just have to wait and see.


http://www.awexp.com.au

WELL, looks like u will have to go to their website and do your own homework.

They r on my list and if they do not make it, no one will. Not in this market.
If u find a better investment, please let me know ;)

It's on the list :)


Australian Aspect Huntley RecommendationValuation Price: $3.35 https://ost.asbbank.co.nz/images/Aspect_Buy.jpgWorldwide Exploration Limited (AWE) is an Australian based oil and gas explhttp://www.awexp.com.auoration Australian Worldwide Exploration Limited (AWE) is an Australian based oil and gas exploration and production Valuation Price: $3.35 https://ost.asbbank.co.nz/images/Aspect_Buy.jpg Valuation Date: 26/02/2009 company. AWE was recently admitted to the prestigious ASX 100 Index.and production
AWE joined the ranks of serious oil and gas
AWE joined the ranks of serious oil and gas companies in 2006 with production at Casino, Cliff Head and BassGas. Production from Tui in NZ began in July 2007. A key strategy is to develop discoveries near installed infrastructure – like Henry and Trefoil near Casino and BassGas. Expect production to decline from heady 9.9mmboe FY08 levels as Tui's prolific oil flows fade. Stil,l reserve life based on forecast production is favourable compared to ASX listed peers. A suitable energy exposure for investors comfortable with medium risk. Strong management, low sovereign risk, a healthy balance sheet and exploration upside appeal. AWE successfully bid for ARC Energy in 2008.
companies in 2006 with production at Casino, Cliff Head and BassGas. Production from Tui in NZ began in July 2007. A key strategy is to develop discoveries near installed infrastructure – like Henry and Trefoil near Casino and BassGas. Expect production to decline from heady 9.9mmboe FY08 levels as Tui's
AWE joined the ranks of serious oil and gas companies in 2006 with production at Casino, Cliff Head and BassGas. Production from Tui in NZ began in July 2007. A key strategy is to develop discoveries near installed infrastructure – like Henry and Trefoil near Casino and BassGas. Expect production to decline from heady 9.9mmboe FY08 levels as Tui's prolific oil flows fade. Stil,l reserve life based on forecast production is favourable compared to ASX listed peers. A suitable energy exposure for investors comfortable with medium risk. Strong management, low sovereign risk, a healthy balance sheet and exploration upside appeal. AWE successfully bid for ARC Energy in 2008.
prolific oil flows fade. Stil,l reserve life based on forecast production is favourable compared to ASX listed peers. A suitable energy exposure for investors comfortable with medium risk. Strong management, low sovereign risk, a healthy balance sheet and exploration upside appeal. AWE successfully bid for ARC Energy in 2008.
company. AWE was recently admitted to the prestigious ASX 100 Index

ELYOB
23-03-2009, 11:06 AM
EUROZ SECURITIES 28.2.2009 = Comments Price Target: $2.64/sh


AWE recorded a Dec H profit of A$96m net of A$37.4m of exceptional items predominately associated with the ARC merger.
Underlying revenues of A$392.1m were in-line with our A$393m forecast.
We expect revenues to halve, resulting in a NPAT of circa A$20m for the Jun H.
Total Tui production remains on track to achieve our forecast production of 9.2mmbbls for FY’09.
CY’09 will see AWE drill 15 wells commencing with a 4+ well gas exploration (Latent-1 plus one other) and oil development (Hovea x2)
programme in the onshore Perth Basin in the Mar Q.
A major catalyst will be the 6+ well NZ offshore exploration/appraisal program expected to commence in the Sep Q, comprising near
(Tui) fi eld appraisal (42.5%) and high impact oil exploration drilling, including the 100mmbbl+ Hoki prospect.
We expect that the Taranaki Basin will be a major focus of AWE’s G&G activities in 1H’09, with further acreage acquisitions and/or additional
drilling as a result, later in the year.
The June Q will also see AWE test the Rockhopper feature (tagged by Aroo-1 in 1974) as well as appraise the liquids rich, high quality
Trefoil gas accumulation in the Bass Basin (42.5%). AWE estimates net reserves of up 40mmboe may be delivered from the drilling results;
this compares favourably to AWE’s existing 69mmboe of reserves.
The two well commitment on Block 7 in the onshore Yemen (AWE 21% + ADI 8.5%) may commence as early as Q3, whilst further drilling
and acreage acquisition is expected for Indonesia following AWE’s Lengo-1 discovery in 2008.
As at Dec 31, AWE’s cash balance stood at A$383m, though we expect this to fall to around A$300m in light of the weaker oil price and
forecast exploration spend of circa A$60m this H.
AWE’s balance sheet remains strong with no debt and access to a finance facility of A$135m to assist with future acquisitions and/or
development capex.

Investment Case = $2.64

tricha
31-03-2009, 07:40 PM
Australian Worldwide Exploration Ltd (AWE)
Last Updated: 30 March, 2009https://ost.asbbank.co.nz/images/printfriendly_icon.gif (http://javascript<b></b>:printpopup())
My buy of the year AWE.
Valuation
Aspect Huntley

Valuation Price: $3.35 https://ost.asbbank.co.nz/images/Aspect_Buy.jpg Valuation Date: 26/02/2009
.................................................. .................................................. ..

$5.00 is an easy target for this one.
Remember they swallowed up ARQ Energy recently and that was a great deal, ( although it added 37.4 million in costs in the last half year. )
They still turned a great profit and with oil creeping up ........., interesting second half.

Cash, no debt and plenty of oil and gas and plenty of exploration upside.
It does not get much better.

Off the Daily Reckoning.
ARE THEY CRAZY?"
Australian Oil Explorer
Spends Up Large While Competitors Hibernate
If you're sold on oil prices going up long-term, here's another URGENT discount buy to add to your portfolio today.
In fact it's probably one of the most promising oil plays in the world right now... and it trades right here on the ASX. Let me show you why I'm recommending this stock to friends and family as well as my readers...

First and foremost, this company is a "mega cash box". While many oil outfits have squandered their revenue from triple-digit oil prices, these guys have been prudent. They've got $383 million in net cash reserves in the bank.
As I've said, that's your lifeline during a credit crisis. It means you don't have to go cap in hand to banks - most of which are refusing to lend anyway - in order to keep your business going.
That's the first reason you should own this stock.
Second: These guys are not only maintaining current exploration plans... they're EXPANDING. They've got the big picture in mind. BP boss Tony Hayward said recently: "When the economy picks up, demand will pick up very fast and we will quickly run into supply problems."
This Australian explorer knows this. So it's doing its damndest to make sure it's first in line to fill the supply gap when it arises.
Just last month the company announced plans to EXPAND their drilling operations in New Zealand from 120,000 bpd to 180,000bpd.
The Oil and Gas Journal reported on January 30th:
"The upgrade will enable more oil to be recovered at a faster rate from the currently producing reservoirs and also provide the flexibility to tie-in any future nearby discoveries."

It goes on to say the explorer:
"...is now confident it can extract the remaining reserves without the extra development well. There are five attractive prospects near the three producing reservoirs which in total could contain another 50 million bbl of oil."

Look, I've done my homework on this. And you're just not seeing announcements like these from oil companies these days.
What's more, despite the global downturn, this company is making enough revenue to fund development without digging into its savings. It made $140 million in the final quarter of 2008, despite the sinking oil price.
And there's one more great reason to own this company now...

On January 30 It Handed
Investors $52 Million

Income from your investments is crucial during recession.
Investment legend and author of Stocks for the Long Run, Professor Jeremy Siegel, calls dividend-paying stocks "bear market protectors."
On January 30, for the first time ever, this company became a dividend payer - announcing a 10 cent per share special dividend amounting to a massive $52 million.
That takes some chutzpah at a time when revenues are down, oil prices are low and cash is scare.
To me it shows two things: 1) this is a company that respects its shareholders and 2) it's confident they can ride out the storm and start making a killing at the end of it.
With a healthy bank balance, there's every chance they might issue another dividend at the end of the year. Especially if the stock price itself stays depressed.
But you know what? I don't think it will.
The stock now sits around $2.51. That's about $2 less than it was six months ago. But it's recovered from its low of $1.75.
I believe it's a matter of weeks, maybe DAYS before investors who sold out realise their folly and buy back in... and other bargain hunters start buying as well.

$2.51 is a flat-out bargain. I believe you'll see the share price at $5 or more by the end of the year - even if the oil price hasn't recovered. After oil prices recover - and they MUST - you could see this company trading at $8 to $12 in as little as 12 months.

shasta
31-03-2009, 08:21 PM
Tricha

You seem awfully convinced, but predicting a multi-bagger in this market takes alot of confidence.

What SP did AWE achieve when oil was ~ $US147/bbl?

tricha
31-03-2009, 08:45 PM
Tricha

You seem awfully convinced, but predicting a multi-bagger in this market takes alot of confidence.

What SP did AWE achieve when oil was ~ $US147/bbl?

I'm conservatively picking a one bagger Skol. NZO will do u WELL as well.

Just like NZO expect a takeover, they are ripe with so much cash and no major player except fund managers.

The date on this register is December 22, 2008.

RankName
Shares
%
1.JP MORGAN NOMINEES AUSTRALIA LIMITED82,923,65415.92%2.NATIONAL NOMINEES LIMITED81,793,56515.70%3.HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 56,588,28310.86% 4.ANZ NOMINEES LIMITED 25,028,2674.81%5.UBS NOMINEES PTY LTD14,462,274 2.78%6.FORBAR CUSTODIANS LIMITED 13,651,1232.62%7.CITICORP NOMINEES PTY LIMITED13,494,8232.59%8.AMP LIFE LIMITED 11,947,0872.29%9.COGENT NOMINEES PTY LIMITED 9,018,0641.73%10.COGENT NOMINEES PTY LIMITED7,234,9261.39% 11.BURNAL PTY LTD6,128,3801.18% 12.QUEENSLAND INVESTMENT CORPORATION4,495,0740.86%13.AUSTRALIAN REWARD INVESTMENT ALLIANCE (C/O JP MORGAN)3,541,1460.68% 14.MR EDWARD SMITH & MRS JEAN SMITH (ES & J FAMILY FUND)3,307,5470.64%15.HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED - A/C 2 3,277,5670.63%16.CITICORP NOMINEES PTY LIMITED 3,097,4870.59%17.KEY RESOURCE ANALYSTS LTD2,812,0420.54%18.RBC DEXIA INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED2,613,0420.50% 19.CITICORP NOMINEES PTY LIMITED 2,106,1010.40%20.RBC DEXIA INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED1,891,4160.36% TOTAL:349,411,86867.07%

shasta
31-03-2009, 08:52 PM
I'm conservatively picking a one bagger Skol. NZO will do u WELL as well.

Just like NZO expect a takeover, they are ripe with so much cash and no major player except fund managers.

The date on this register is December 22, 2008.


RankName
Shares

%
1.JP MORGAN NOMINEES AUSTRALIA LIMITED82,923,65415.92%2.NATIONAL NOMINEES LIMITED81,793,56515.70%3.HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 56,588,28310.86% 4.ANZ NOMINEES LIMITED 25,028,2674.81%5.UBS NOMINEES PTY LTD14,462,274 2.78%6.FORBAR CUSTODIANS LIMITED 13,651,1232.62%7.CITICORP NOMINEES PTY LIMITED13,494,8232.59%8.AMP LIFE LIMITED 11,947,0872.29%9.COGENT NOMINEES PTY LIMITED 9,018,0641.73%10.COGENT NOMINEES PTY LIMITED7,234,9261.39% 11.BURNAL PTY LTD6,128,3801.18% 12.QUEENSLAND INVESTMENT CORPORATION4,495,0740.86%13.AUSTRALIAN REWARD INVESTMENT ALLIANCE (C/O JP MORGAN)3,541,1460.68% 14.MR EDWARD SMITH & MRS JEAN SMITH (ES & J FAMILY FUND)3,307,5470.64%15.HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED - A/C 2 3,277,5670.63%16.CITICORP NOMINEES PTY LIMITED 3,097,4870.59%17.KEY RESOURCE ANALYSTS LTD2,812,0420.54%18.RBC DEXIA INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED2,613,0420.50% 19.CITICORP NOMINEES PTY LIMITED 2,106,1010.40%20.RBC DEXIA INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED1,891,4160.36% TOTAL:349,411,86867.07%

Just having a look at AWE, on the ASB Sec site...;)

They are forecasting lower EPS for FY10 @ 21c on a forward P/E of 11.5

Seems a little pricey even though they have a $3.35 valuation on AWE.

NZO are forecast to have EPS in FY10 of 16.9c, on a forward P/E of 8.0, who have a $NZ1.65 valuation on them.

The market has largely priced in FY09 figures already, with the variable being the POO & $US FX rate.

Hence my preference to NZO over AWE.

tricha
31-03-2009, 09:09 PM
Just having a look at AWE, on the ASB Sec site...;)

They are forecasting lower EPS for FY10 @ 21c on a forward P/E of 11.5

Seems a little pricey even though they have a $3.35 valuation on AWE.

NZO are forecast to have EPS in FY10 of 16.9c, on a forward P/E of 8.0, who have a $NZ1.65 valuation on them.

The market has largely priced in FY09 figures already, with the variable being the POO & $US FX rate.

Hence my preference to NZO over AWE.

R but r u missing the big picture, Tui drilling coming up and refer the map, re PPP.

AWE hold 42% compared to NZO 12.5%.

Time will tell ;)

shasta
01-04-2009, 05:54 PM
R but r u missing the big picture, Tui drilling coming up and refer the map, re PPP.

AWE hold 42% compared to NZO 12.5%.

Time will tell ;)

The tui field is in natural decline, although plenty of oil to go & to be extracted profitably, thats not the value i see in NZO, the market already knows about Tui & its surrounding prospects...

NZO has been hampered to some extent by PRC, having to raise more capital, i see this as a short term event, & PRC will be re-rated when the cash starts rolling in...

I see this as an opportune time to buy back into NZO, whilst...

1. PRC capital raising is depressing the SP, maybe some overhang?

2. Oil is below $US50/bbl

3. Kupe project not quite up & running yet

4. NZO's next move (if any) on PPP, seems to have stalled.

5. NZO still has the cash pile

I totally agree with you re AWE, any new commercial finds will set it alight!

tricha
04-04-2009, 12:19 AM
The tui field is in natural decline, although plenty of oil to go & to be extracted profitably, thats not the value i see in NZO, the market already knows about Tui & its surrounding prospects...

NZO has been hampered to some extent by PRC, having to raise more capital, i see this as a short term event, & PRC will be re-rated when the cash starts rolling in...

I see this as an opportune time to buy back into NZO, whilst...

1. PRC capital raising is depressing the SP, maybe some overhang?

2. Oil is below $US50/bbl

3. Kupe project not quite up & running yet

4. NZO's next move (if any) on PPP, seems to have stalled.

5. NZO still has the cash pile

I totally agree with you re AWE, any new commercial finds will set it alight!

hmm, 69 million P2 reserves, it's still a one bagger.

how many P2 does NZO have ???????????????????

shasta
04-04-2009, 12:23 AM
The tui field is in natural decline, although plenty of oil to go & to be extracted profitably, thats not the value i see in NZO, the market already knows about Tui & its surrounding prospects...

NZO has been hampered to some extent by PRC, having to raise more capital, i see this as a short term event, & PRC will be re-rated when the cash starts rolling in...

I see this as an opportune time to buy back into NZO, whilst...

1. PRC capital raising is depressing the SP, maybe some overhang?

2. Oil is below $US50/bbl

3. Kupe project not quite up & running yet

4. NZO's next move (if any) on PPP, seems to have stalled.

5. NZO still has the cash pile

I totally agree with you re AWE, any new commercial finds will set it alight!

hmm, 69 million P2 reserves, it's still a one bagger.

how many P2 does NZO have ???????????????????

Tricha

If nothing else you should know i do my homework...

Whats AWE's reserves v BPT's?

Its's not the size of the field but the extraction rate that makes or breaks a company...

tricha
04-04-2009, 09:03 AM
[quote=tricha;249953]

Tricha

If nothing else you should know i do my homework...

Whats AWE's reserves v BPT's?

Its's not the size of the field but the extraction rate that makes or breaks a company...

Hmm, AWE seem to do everything very professionally, take the takeover of ARQ, ARQ had a lot of good things going for it by itself and I had ARQ from time to time.
The takeover will be very rewarding for AWE, as they both shared common ground in WA.
A bit like NZO taking PPP, u take out a whole management structure and nothing changes, as far as production goes. except costs are lower.
So we should be seeing the saving's, appear this quarter in that area.

Most of AWE's drilling this year is fairly low risk, it is in areas they know very WELL and tyebacks to existing infrastructure is fairly easy. I'm picking a 50% strike rate.
So they have a forward projected decline rate on known facts, but I'm betting with new WELLS coming on stream, it will be an incline.

My calculation as a one bagger is conservative, if they have a 50% sucess rate, remember they are not wildcats.

So AWE is a safe bet and while you sit on the sideline Shasta wanting to buy, you might see the ship sail past u while u r waiting at the train station. That is NZO I mean Shasta, yes it is also a great buy, but the sooner they sell that dog of a mine Pike the better. It's like a bottomless pit.;)

So AWE is in the ASX100, maybe the fund managers will chase it hard as WELL, someone wanted some badly at lunch time yesterday. With no major holder except fund managers, how long till someone like Santos strikes :confused:



http://www.stocknessmonster.com/images/australia.gifhttp://www.stocknessmonster.com/chart/stockness/intra/delayed/ASX/AWE
Buy 3.2T

261

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http://www.stocknessmonster.com/images/green_round_small.gif 15 6.1%
6:59 pm
High 263
Open 255
Volume 4,277,335
262

tricha
10-04-2009, 11:52 AM
Management seem very astute, the next WPL in the making.;) Nearly 400 million cash in the bank and upside every which way you look at it and of course, a potential takeover contender.


AWE Ltd 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 15%) 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 42.5%)

Cliff Head oil field - offshore Perth basin, Western Australia (AWE 57.5%)
Huge upside potential!

Casino gas field - offshore Otway basin, Victoria (AWE 25%)

Onshore Perth Basin interests, Western Australia (AWE 33-100%)

In addition to its oil and gas producing assets AWE has a number of exploration opportunities both in Australia and overseas.
In early 2006, AWE acquired 42.5% in the Tui Area oil project and some additional oil exploration acreage in the offshore Taranaki basin. The Tui Area oil project started producing on July 30, 2007 and by December 2008 had produced approximately 19.5 million barrels of oil.
Exploration opportunities in New Zealand in the Taranaki basin are being pursued with a view to adding to the reserves base of the Tui project or to discover and develop separate, stand alone fields.
AWE acquired 30% of the undeveloped Yolla field in Bass Strait and brought the field into production in late 2006. Modifications and debottlenecking of the onshore gas plant at Lang Lang in south Gippsland in Victoria in 2007 brought the field to its design capacity. Each year the BassGas project is expected to produce 22 Petajoules of sales gas, 1 million barrels of condensate and 65 thousand tonnes of LP Gas. An aggressive exploration program of prospects close to the Yolla field, starting in 2009, is expected to generate substantial additional gas and liquids resources. Following the ARC merger, AWE's share of the BassGas Project rose to 42.5%
In mid 2003, AWE acquired a 25% interest in VIC/P44, including the Casino gas field, in the offshore Otway basin in Victoria. The Casino field was brought into production in early 2006. The development of the nearby Henry gas field has been approved by the AWE board.
In early 2002 AWE announced the Cliff Head wildcat oil field discovery in the offshore Perth basin just north of Perth in Western Australia. This discovery opened a new play trend which AWE has explored aggressively. Development of the Cliff Head field began in March 2005 with first production in early 2006. Following the ARC merger, AWE's share of the Cliff Head Project rose to 57.5%
AWE opened an office in Indonesia in early 2006 to review exploration and development opportunities. The first exploration venture was consummated in June 2007 and AWE's first well was drilled in the Bulu basin in the Java Sea, approximately 90 kilometres north of Surabaya, East Java, began in early 2008. AWE discovered significant, but non-commercial oil shows in the Lisah 1 well and is drilling a second well seeking substantial gas resources.
AWE intends to pursue additional oil and gas exploration opportunities in Australia and overseas.

macduffy
10-04-2009, 02:27 PM
I'm a fan of AWE too and have held a few for several years.

Just picking up on a question raised by shasta re AWE's reserves v those of BPT.

As at last balance date, AWE's reserves, including those of newly aquired ARQ, stood at 68.7m boe. The Henry gas field would have provided an (unquantified) minor addition to reserves since then. I don't think there has been any announced change to the Tui reserves or those of the other operating fields.

BPT's reserves were 145m boe at the same date. Since then they have sold Tipton West to AOE which represented 76m boe. Yes, 52% of their boe reserves! But that still leaves them with 79m.

BPT have almost twice the number of share on issue as AWE, over 1b v 520m but of course their SP is only a fraction of AWE's. Incidentally, AWE's cash will be a bit less than almost $400m now. It was $383m at 31 December and since then a special dividend of 10cps, $52m, has been paid.

tricha
10-04-2009, 09:21 PM
I'm a fan of AWE too and have held a few for several years.

Just picking up on a question raised by shasta re AWE's reserves v those of BPT.

As at last balance date, AWE's reserves, including those of newly aquired ARQ, stood at 68.7m boe. The Henry gas field would have provided an (unquantified) minor addition to reserves since then. I don't think there has been any announced change to the Tui reserves or those of the other operating fields.

BPT's reverves were 145m boe at the same date. Since then they have sold Tipton West to AOE which represented 76m boe. Yes, 52% of their boe reserves! But that still leaves them with 79m.

BPT have almost twice the number of share on issue as AWE, over 1b v 520m but of course their SP is only a fraction of AWE's. Incidentally, AWE's cash will be a bit less than almost $400m now. It was $383m at 31 December and since then a special dividend of 10cps, $52m, has been paid.

When u look at what Australian Worldwide Exploration have got, it sort of leaves NZO and PPP pissing into the wind. hmm

JBmurc
11-04-2009, 06:41 AM
Personal I believe ROC will outperform in % SP growth- 47mboe 2p reserves 250mill mktcap, drilling in their china block soon ,has pently dept but with 12,000boepd should pay down on a higher oil price quick smart..NPAT 210mill 2010 est.

current sp-42c val's-$1.50-$2.50+ higher risk 200%-500% growth potential

both NZO AWE are great oilers ones I'd invest me parents into for their safer balance sheets

Corporate
11-04-2009, 09:08 AM
I'm a fan of AWE too and have held a few for several years.

Just picking up on a question raised by shasta re AWE's reserves v those of BPT.

As at last balance date, AWE's reserves, including those of newly aquired ARQ, stood at 68.7m boe. The Henry gas field would have provided an (unquantified) minor addition to reserves since then. I don't think there has been any announced change to the Tui reserves or those of the other operating fields.

BPT's reserves were 145m boe at the same date. Since then they have sold Tipton West to AOE which represented 76m boe. Yes, 52% of their boe reserves! But that still leaves them with 79m.

BPT have almost twice the number of share on issue as AWE, over 1b v 520m but of course their SP is only a fraction of AWE's. Incidentally, AWE's cash will be a bit less than almost $400m now. It was $383m at 31 December and since then a special dividend of 10cps, $52m, has been paid.

It would be interesting to do a comparision on the type of reserves that make up each company's BOE figure. I would assume that AWE's has more liquids and therefore higher value.

Also BPT sale of tipon has a tax consequence and they also have around $100m debt.

My concern is that Tui is actually starting to decline very quickly...

Nitaa
11-04-2009, 09:41 AM
When u look at what Australian Worldwide Exploration have got, it sort of leaves NZO and PPP pissing into the wind. hmmAWE have great exposure to Tui and it market cap represents that to a degree. The big differewnt in my opinion is that Kupe will have a longer life span than Tui.

Anything under $2.50 for AWE is a bargain imo. Has a great balance sheet to boot.

macduffy
11-04-2009, 09:48 AM
It would be interesting to do a comparision on the type of reserves that make up each company's BOE figure. I would assume that AWE's has more liquids and therefore higher value.

QUOTE.

I havn't looked at this in detail recently but back in June, 2007, admittedly quite a while ago, AWE liquids 2P reserves were only about 31% of their total. This was because their Bass Basin gas was the biggest chunk, almost 42%. Tui reserves have been upgraded since, of course, but also depleted by production.

BPT liquids are about 40% of total 2P reserves.

tricha
11-04-2009, 10:00 AM
both NZO AWE are great oilers ones I'd invest me parents into for their safer balance sheets

Yes JB, ones I would invest my parents in, that's exactly what I am looking for in this extreme market.

That's why I rate AWE as my buy of the year.

Summmary

For a short term\long term investment. Yes the next WPL in the making and now they have bedded in the ARQ takeover, they are primed to move.


1 - No debt.

2 - Mountains of cash

3 - Top management.

4 - Very, very low soverign risk.

5 - Five major projects to spread risk.

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 42.5%)

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%)


6 - Huge exploration upside in all the areas above, that they understand very WELL. ( Huge, it would pay everyone to do their own research to fully understand future exploration upside, to much to mention here. )

7 - Now in the ASX100

8 - No major holders, except investment type companies. So cheap that it becomes someone elses bargain.

9 - 69 million barrells of P2 reserves. And not CSG, real oil mainly.

10 - U can sleep on it and not worry about if's, but's or maybe's.

It does not get much better as far as a share market company goes.

macduffy
11-04-2009, 10:10 AM
9 - 69 million barrells of P2 reserves. And not CSG, real oil mainly.

QUOTE.

I've had another look at this as at 30 June, 2008.

AWE liquids at that point were about 40% of their total 2P reserves, interestingly almost exactly the same proportion as BPT's following the sale of Tipton West.
AWE's biggest reserves remain Bass Basin gas and LPG.

Corporate
11-04-2009, 10:12 AM
thanks macduffy.

I guess AWE is really a play on how good this TUI area COULD/WILL be. Any reserves they can tie in to the current WHP and FPSO would be amazing!

Timo
28-04-2009, 08:40 AM
Does anyone have any thoughts on AWE sp retracement in last month.Gas prices going for a burton?mmm...could be good time for buying up more?
Any thoughts appreciated,
Cheers,
Timo.

tricha
28-04-2009, 06:46 PM
Does anyone have any thoughts on AWE sp retracement in last month.Gas prices going for a burton?mmm...could be good time for buying up more?
Any thoughts appreciated,
Cheers,
Timo.

Buy, you bet Timo and that is exacty what I did yesterday, with 42% of Tui.


Tui Area Oil Project (PMP 38158) Taranaki Basin (PPP interest 10%)

Production from the Tui Area oil fields totaled 2.0 million barrels (PPP 0.20 million barrels) for the March
quarter, averaging 22,616 barrels a day. The production rate continues to exceed both long and short
term forecast’s. Cumulative field production to the end of March 2009 was 21.8 million barrels (PPP
share 2.18 million barrels).
The Tui Area Joint Venture (JV) has secured the services of the semi-submersible drilling rig Kan Tan IV
for a drilling campaign in the offshore Taranaki Basin in 2009. Pan Pacific Petroleum, together with other
members of the Tui Joint Venture (JV), operated by Australian Worldwide Exploration Ltd, has committed
to sufficient rig days on the Kan Tan IV drilling sequence to drill at least two exploration wells which are
programmed for early Q4 on the current rig schedule. There are five prospects adjacent to the Tui Field
within the Tui permit which are all potential drilling targets, but final selection of wells for drilling is still to
be agreed by the JV. Seabed site surveys over all possible drilling locations were carried out in April.
Successful discoveries would likely be developed by low-cost tie-back to the existing Tui facilities.

tricha
08-05-2009, 10:53 PM
Rule # 10, never buy in a down trend.

Why do I keep breaking that rule :confused:

Anyway I am out for now.:D

shasta
08-05-2009, 10:55 PM
Rule # 10, never buy in a down trend.

Why do I keep breaking that rule :confused:

Anyway I am out for now.:D

With oil trending back up, probably a bad time to sell?

You sitting on cash or have other targets?

tricha
08-05-2009, 11:11 PM
With oil trending back up, probably a bad time to sell?

You sitting on cash or have other targets?

Cash and 100K of PPP and a few ROC, BPT, CUE.

My targets are weakness in AWE, BPT, PPP. Cash cows which will survive whatever the market throws upon us.
But my selection could change tomorrow, Mr Market waits for no one, :(

shasta
08-05-2009, 11:13 PM
Cash and 100K of PPP and a few ROC, BPT, CUE.

My targets are weakness in AWE, BPT, PPP. Cash cows which will survive whatever the market throws upon us.
But my selection could change tomorrow, Mr Market waits for no one, :(

Not a fan of CSG?

CVN also looks like its moving in the right direction ;)

Corporate
09-05-2009, 07:32 AM
Not a fan of CSG?

CVN also looks like its moving in the right direction ;)

CVN already gone IMO!

tricha
03-06-2009, 08:55 PM
Cash and 100K of PPP and a few ROC, BPT, CUE.

My targets are weakness in AWE, BPT, PPP. Cash cows which will survive whatever the market throws upon us.
But my selection could change tomorrow, Mr Market waits for no one, :(

Did a flip flop, took profit on a few Beach yesterday and today AWE weakness. :)


AWEAustralian Worldwide Exploration Limited FPOhttp://www.stocknessmonster.com/images/australia.gifhttp://www.stocknessmonster.com/chart/stockness/intra/delayed/ASX/AWE
Buy 10T
281
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281
http://www.stocknessmonster.com/images/red_round_small.gif 16 5.4%
6:59 pm
High 298
Open 298
Volume 3,280,330
282

Sell 10T
Low 279
Prev. Close 297
Turnover $9,395,623
2:45 pmAWEs Vietnam Tuong Vi drilling update (http://www.stocknessmonster.com/news-item?S=AWE&E=ASX&N=552708)


And to top it off, it is rated as a buy by most brokers.

CURRENT ANALYST RECOMMENDATIONS (javascript:glossaryId("171"))What are the analysts recommending?https://www.aspecthuntley.com.au/chartcache/images/68c1114acee9f87423830e2171f.png (javascript:glossaryId("171")) AVERAGE ANALYST RECOMMENDATION HISTORY (javascript:glossaryId("172"))CompanyMarketSectorCurrent1.792.562.22 Strong Buy = 17 Days Ago1.71 Mod. Buy = 230 Days Ago1.60 Hold = 360 Days Ago1.73 Mod. Sell = 490 Days Ago2.00 Strong Sell = 5 CONTRIBUTING ANALYSTS (javascript:glossaryId("173"))PATERSONS SECURITIES LIMITED, AUSTOCK LIMITED, E.L. & C. BAILLIEU STOCKBROKING LTD., UBS, BAS-ML INTL, WILSON HTM SECURITIES, J.P.MORGAN, MACQUARIE RESEARCH EQUITIES, DEUTSCHE BANK SECURITIES, CITI, GOLDMAN SACHS JB WERE, MORGAN STANLEY, CREDIT SUISSE - AUSTRALIA, BBY LTD.

tricha
05-06-2009, 10:39 PM
The best oil buy on the market?, it's one of the safest ? u bet ya.

69 million P2 x $40 a barrel = $2,760,000,000 / amount of shares, gives a conservative net worth of what AWE is worth.

The brokers reckon its worth $3.30, I reckon they are a tad short, $5.30

After reading their exploration coming up ............................



to provide long term cash flow…from reserves of (2P) 69 million barrels oil equivalent

Read the presentation and make up your own mind

http://www.stocknessmonster.com/news-item?S=AWE&E=ASX&N=549545

Corporate
06-06-2009, 06:05 AM
The best oil buy on the market?, it's one of the safest ? u bet ya.

69 million P2 x $40 a barrel = $2,760,000,000 / amount of shares, gives a conservative net worth of what AWE is worth.

The brokers reckon its worth $3.30, I reckon they are a tad short, $5.30

After reading their exploration coming up ............................



to provide long term cash flow…from reserves of (2P) 69 million barrels oil equivalent

Read the presentation and make up your own mind

http://www.stocknessmonster.com/news-item?S=AWE&E=ASX&N=549545


Tricha - why didn't AWE go out and buy stressed companies with proved reserves already..They are spending $200m and if they are all dry. AWE downward slide to sub $2

tricha
06-06-2009, 09:06 AM
Tricha - why didn't AWE go out and buy stressed companies with proved reserves already..They are spending $200m and if they are all dry. AWE downward slide to sub $2

Well from what I have read Corporate.

They bought ARQ Energy last year and have recently put it to bed.

They are looking now for the next one, Beach springs to mind as a perfect fit, I can imagine a share swap as part of a deal.

Now the interesting part is the exploration coming up, they are not wildcats, so I am guessing we will see a 50% strike rate.
They have targeted areas of known oil, mainly next to existing oil fields, so tie backs are relatively cheap.
So far AWE seem to do everything right as a company, so we expect continuation of this.

Now if you wanted a breakdown of their exploration, it would take days of research, something for the likes of Shrewdy, but this is not his cup of tea because its not a 5 bagger.

Exciting times a head for Australian Worldwide Exploration, because someone like Santos is just as likely to slamdunk them, at the blink of an eye.

Happy hunting folks. :)

tricha
07-06-2009, 08:01 AM
AWE directors, not much has been said on this site about them, not much traffic about AWE at all really.
The only thing I can say for sure about them, is they can all smile for the camera :)
Actually looking at all the profiles, they look to have plenty of experience and expertise.

</SPAN>


http://www.awexp.com.au/IRM/Company/ShowPage.aspx?CPID=1004Bruce G. McKay
Independent Non-executive Chairman, BSc (Hons) Geol, FIEAust, FAICD, 58 years
Bruce McKay is a geologist with more than 35 years experience in professional, management and executive roles in the upstream oil and gas industry.
Bruce is an Honorary Life Member of APPEA, a member of PESA and the American Association of Petroleum Geologists, a Fellow of the Institution of Engineers Australia and a Fellow of the Australian Institute of Company Directors. He is the non-executive Chairman of Epic Energy Holdings Pty Ltd and is also an executive coach with the Stephenson Mansell Group. He was formerly a director of Sydney Gas Company Ltd.
Bruce was appointed Chairman of the Board of AWE on 19 March 1997. He is Chairman of the Remuneration Committee and a member of the Audit Committee and the Operations Risk Committee.



http://www.awexp.com.au/IRM/Company/ShowPage.aspx?CPID=1005Bruce J. W. Wood
Managing Director, BE (Hons) Mining, 56 years
Bruce Wood is a petroleum engineer with over 30 years of technical, commercial and management experience in the upstream oil and gas industry. In addition to extensive experience in Australia, he has also lived and worked in Holland, France, the United States of America and Central America.
Prior to joining AWE, Bruce was the General Manager and a director of Delhi Petroleum Pty Ltd, a subsidiary of Westpac.
Bruce was appointed an executive director of AWE on 11 April 2007.



http://www.awexp.com.au/IRM/Company/ShowPage.aspx?CPID=1006Colin C. Green
Independent Non-executive Director, FCA, 65 years
Colin Green is a chartered accountant with 47 years experience in the corporate finance and business sector. Formerly a partner of KMG Hungerford, Hancock and Offner, Colin was also formerly Executive Director Corporate of TNT Australia.
Colin was appointed a non-executive director of AWE at its incorporation on 17 March 1997. He is Chairman of the Audit Committee and a member of the Remuneration Committee.



http://www.awexp.com.au/IRM/Company/ShowPage.aspx?CPID=1007David I. McEvoy
Independent Non-executive Director, BSc (Physics), Grad Dip (Geophysics), 60 years
David McEvoy has a petroleum geoscience background with 36 years experience in international exploration and development. He has held several senior executive positions in affiliates of ExxonMobil, most recently Vice President, Business Development in ExxonMobil Exploration Company (1997-2002).
David is currently a non-executive director of Woodside Petroleum Ltd, Po Valley Energy Ltd and Innamincka Petroleum Ltd.
David was appointed a non-executive director of AWE on 22 June 2006. He is a member of the Audit Committee and the Operations Risk Committee.



http://www.awexp.com.au/IRM/Company/ShowPage.aspx?CPID=1008Edward S. Smith
Independent Non-executive Director, 65 years
Edward Smith is a businessman with investments in exploration, mining and petroleum companies. He is currently a nonexecutive Chairman of Impress Ventures Ltd an oil exploration company. He was formerly a director of Jupiter Energy Limited and Carpathian Resources Limited and non-executive Chairman of Jupiter Biofuels Limited.
Edward was formerly Chairman of Omega Oil NL and was appointed a non-executive director of AWE on 14 January 2000.
He is Chairman of the Operations Risk Committee and a member of the Remuneration Committee.


http://www.awexp.com.au/IRM/Company/ShowPage.aspx?CPID=1068Andy Hogendijk
Independent Non-executive Director, AAUQ, FCPA, FAICD
Andy Hogendijk is an accountant and an experienced director. He has extensive senior management experience with Suncorp Metway Ltd, Commonwealth Bank of Australia Limited and John Fairfax Group.
He is currently the Chairman of Gloucester Coal Limited and a director of and Magellan Flagship Fund Limited.
Andy was appointed a Director of AWE on 4 October 2007. He is a member of the Audit committee.

da puntzda
09-06-2009, 08:35 PM
Any thoughts as to why AWE down 5.6% today - fairly large fall


discl - not currently a holder

tricha
10-06-2009, 08:10 PM
Any thoughts as to why AWE down 5.6% today - fairly large fall


discl - not currently a holder

WELL it might have to do with the 200 million drill or it could be another dumbass fundmanger doing what they do best.

AWE should have the jump getting their drilling program going, due to the spending on exploration slowing ( Check ROC as example), drillrig availability is up and drilling costs are down.

But NZO and PPP's will have to have more patience as TUI drill is put back and there could be further delays.
AWE are the Kingpins.

Either way Page 30 says it all.

http://www.stocknessmonster.com/news-item?S=AWE&E=ASX&N=553113


ploration Programme

• large exploration
program started
• $200 million over
15 to 18 months
• risked potential to
replace existing 2P
reserves
• up to 15 wells
• 5 countries
• 6 basins

AWE is focused in three regions

troyvdh
25-06-2009, 04:57 PM
...like many others this company confuses me.....it must be a traders dream.....dosh in bank....great reputation....picked by almost everyone....surely the daily fluctuations...of the poo....would not be the only culprit re its ups and downs.....am i complaining.....not sure....

hold 8000

Paint it Black
25-06-2009, 05:44 PM
It must be due for a good lift soon after the latest slow slide - when the POO gets a floor around $75 maybe? For a company with large cash reserves, smiling experienced directors, good reporting, decent dividends and plenty of upside potential in Taranaki and elsewhere surely the brokers will start paying it the attention it deserves.

macduffy
25-06-2009, 06:24 PM
I'd go a bit easy on the "decent dividends" bit.
When the 10c divvy was announced in January it was called a "special, one-off dividend".
But I hold AWE too and not in a hurry to sell. I have the impression that some good news will be needed in the next few months though to offset the fairly rapid decline in Tui production which, although long expected, might be starting to weigh on the SP.

tricha
26-06-2009, 11:19 PM
...like many others this company confuses me.....it must be a traders dream.....dosh in bank....great reputation....picked by almost everyone....surely the daily fluctuations...of the poo....would not be the only culprit re its ups and downs.....am i complaining.....not sure....

hold 8000

U got your wish today, a good gain, patience and double your money ;)

JBmurc
10-07-2009, 12:07 PM
Studies reveal there could be $3.5 billion worth of recoverable oil off the coast of New Zealand

And, starting this November, one tiny Aussie company will use a revolutionary submersible drill to find it...


Read on and stake your claim
in the biggest oil story of 2010


Dear Reader,


"Saudi-sized structures, they are that big."

That's GNS Science's David Darby's take on the oil reserves contained deep off the coast of New Zealand's Taranaki Basin.

"The deepwater frontiers of New Zealand beckon," says Darby.

He estimates up to 10 billion barrels of oil could be recovered.

That's more oil than Norway, Oman, India, Indonesia and the United Kingdom.

Of course, this oil has to be found first. And one tiny Australian company - stock selling for just $2.57 on the ASX - is leading the pack by a country mile.

It has already found and has the rights to drill for more than 55 million barrels... using a revolutionary new semi-submersible rig to extract oil from waters that are up to 25,000 feet deep.

This drilling starts in November this year.

This story has come right out of leftfield. Right now it's getting almost ZERO press coverage. Bottom line: if you're an investor looking to get in right at the bottom of what could be the biggest growth stock story of 2010, now is the time to act

tricha
11-07-2009, 06:49 PM
Studies reveal there could be $3.5 billion worth of recoverable oil off the coast of New Zealand

And, starting this November, one tiny Aussie company will use a revolutionary submersible drill to find it...


Read on and stake your claim
in the biggest oil story of 2010


Dear Reader,


"Saudi-sized structures, they are that big."

That's GNS Science's David Darby's take on the oil reserves contained deep off the coast of New Zealand's Taranaki Basin.

"The deepwater frontiers of New Zealand beckon," says Darby.

He estimates up to 10 billion barrels of oil could be recovered.

That's more oil than Norway, Oman, India, Indonesia and the United Kingdom.

Of course, this oil has to be found first. And one tiny Australian company - stock selling for just $2.57 on the ASX - is leading the pack by a country mile.

It has already found and has the rights to drill for more than 55 million barrels... using a revolutionary new semi-submersible rig to extract oil from waters that are up to 25,000 feet deep.

This drilling starts in November this year.

This story has come right out of leftfield. Right now it's getting almost ZERO press coverage. Bottom line: if you're an investor looking to get in right at the bottom of what could be the biggest growth stock story of 2010, now is the time to act

You are right JB, AWE is my prefered medium term energy stock, for many reasons.
Looks like NZO also like the story. :p

boysy
14-07-2009, 02:34 PM
AWE seeks eastern extension to offshore Taranaki permit

Neil Ritchie, New Zealand
Tuesday, 14 July 2009

OPERATOR Australian Worldwide Exploration and its partners Austrian giant OMV and Todd Energy are applying for an eastern extension to their offshore Taranaki, New Zealand exploration licence PEP 38481.



The 216 square kilometre extension sought is the latest refinement to the permit that has changed significantly in size and shape during the past two years.

In October 2007, the partners that then included Shell NZ gave away over 1000sq.km of the permit that was originally granted in August 2002. This was after the semi-submersible rig Ocean Patriot drilled the non-commercial West Cape-1 wildcat well but failed to find any significant hydrocarbons.

Then AWE had the CGG Veritas vessel Pacific Titan shoot over 500km of 2D seismic over the lease last summer.

Now AWE has applied for the eastern extension after the partners reviewed the results of West Cape-1 and completed their assessment of the prospectivity of the permit.

According to Crown Minerals, current work program commitments include processing and interpreting the latest seismic data, as well as moving to contract a drilling rig suited to drill an exploration or appraisal well.

Earlier this year Todd Energy managing director Richard Tweedie said the Tikati-1 well could be drilled in the licence during 2010.

The PEP 38481 partners are operator AWE (53.75%), OMV (31.25%) and Todd Energy (15%).

tricha
15-07-2009, 08:33 PM
AWE seeks eastern extension to offshore Taranaki permit

Neil Ritchie, New Zealand
Tuesday, 14 July 2009

OPERATOR Australian Worldwide Exploration and its partners Austrian giant OMV and Todd Energy are applying for an eastern extension to their offshore Taranaki, New Zealand exploration licence PEP 38481.



The 216 square kilometre extension sought is the latest refinement to the permit that has changed significantly in size and shape during the past two years.

In October 2007, the partners that then included Shell NZ gave away over 1000sq.km of the permit that was originally granted in August 2002. This was after the semi-submersible rig Ocean Patriot drilled the non-commercial West Cape-1 wildcat well but failed to find any significant hydrocarbons.

Then AWE had the CGG Veritas vessel Pacific Titan shoot over 500km of 2D seismic over the lease last summer.

Now AWE has applied for the eastern extension after the partners reviewed the results of West Cape-1 and completed their assessment of the prospectivity of the permit.

According to Crown Minerals, current work program commitments include processing and interpreting the latest seismic data, as well as moving to contract a drilling rig suited to drill an exploration or appraisal well.

Earlier this year Todd Energy managing director Richard Tweedie said the Tikati-1 well could be drilled in the licence during 2010.

The PEP 38481 partners are operator AWE (53.75%), OMV (31.25%) and Todd Energy (15%).


Oh boy, these guys are focusing on something huge, bigger than Ben Hurr

bermuda
16-07-2009, 09:03 AM
Oh boy, these guys are focusing on something huge, bigger than Ben Hurr

Perhaps OMV may sell down 10% to NZO like they did at Permit 38401.

tricha
23-07-2009, 07:20 PM
Perhaps OMV may sell down 10% to NZO like they did at Permit 38401.

Maybe or maybe AWE will do a deal, AWE on the trail and they are a major holder of many stakes.
The next Woodside in the making.
They got ARC for a song :D

ASX Release

23 July 2009

Jingemia 12 Oil Development Well,
Northern Perth Basin, Western Australia

Jingemia 12
Progress and Status: Origin Energy, on behalf of the L14 Joint Venture parties, advises that the Jingemia 12 oil development well commenced drilling on 18 July 2009 with the Weatherford drilling rig 826. A 311 millimetre (12-1/4 inch) surface section was drilled to section total depth of 536 metres measured depth and 244 millimetres (9-5/8 inch) surface casing was run and cemented to a depth of 533 metres.

At 0830 hours Western Standard Time today, the well had reached 675 metres and was drilling ahead.
Well type and location: Oil development well, Jingemia field, North Perth Basin, Western Australia (L14)
Jingemia-12 is being drilled as a directional well to intersect the oil-bearing Dongara Sandstone in a crestal location in the Jingemia Oil Field at around 2550 metres measured depth. Jingemia 12 surface location is approximately 80m south of Jingemia 11 surface location. The target location is 150m NNE of the Jingemia 11 intersection with the Dongara Sandstone target horizon.
Surface location

Latitude: 29o 20’ 22.91" S
Longitude: 114o 59’ 18.83" E
Target location
Latitude: 29o 20’ 10.488" S
Longitude: 114o 59’ 44.235" E
Initial Interests: Origin Energy Developments Pty Limited* 49.189%
ARC Energy Limited** 44.141%
Victoria Petroleum Offshore Pty Ltd 5.00%
Norwest Energy NL 1.278%
Roc Oil (WA) Pty Limited 0.25%
John K Geary 0.142%
*a wholly owned subsidiary of Origin Energy Limited
**a wholly owned subsidiary of Australian Worldwide Exploration Limited

For further information contact:

Angus Guthrie
Manager, Investor Relations
Origin Energy
Phone: +61 2 8345 5558
Email: angus.guthrie@originenergy.com.au

tricha
01-08-2009, 11:24 PM
How many oil companies have 300, plus millions sitting in the bank.???

How many airlines have any money in the bank ??

Highlights
• Oil and gas production of 1.94 million BOE for the quarter, with annual production reaching 8.75 million BOE.
• Revenue of $87 million, for the quarter, with full year sales revenue of $590 million.
• Net cash reserves of $340 million at the end of the quarter (excluding joint venture cash).
• Gross oil production from the Tui fields was 1.51 million barrels (AWE share 0.64 million barrels) in the June quarter with full year production to 9.1 million barrels.
• Farmed-in to earn a further 5% interest in T/18P in the offshore Bass Basin, containing the Trefoil gas discovery.
• High impact drilling programme in 5 basins in 4 countries involving 6-months of continuous offshore drilling, set to begin. • Yesterday marked the second anniversary of the start of the oil production at Tui. In 731 days, 23.8 million barrels of oil has been produced.

tricha
26-08-2009, 09:03 PM
WE will revise AWE, net cash $356 million and no debt, outstanding. Value on my simple calculation, $5.99 a share, and that does not include elephants.

And they are Elephant hunting, great reading.

http://www.stocknessmonster.com/news-item?S=AWE&E=ASX&N=561685 (http://www.stocknessmonster.com/news-item?S=AWE&E=ASX&N=561685)


How many oil companies have 300, plus millions sitting in the bank.???

How many airlines have any money in the bank ??

Highlights
• Oil and gas production of 1.94 million BOE for the quarter, with annual production reaching 8.75 million BOE.
• Revenue of $87 million, for the quarter, with full year sales revenue of $590 million.
• Net cash reserves of $340 million at the end of the quarter (excluding joint venture cash).
• Gross oil production from the Tui fields was 1.51 million barrels (AWE share 0.64 million barrels) in the June quarter with full year production to 9.1 million barrels.
• Farmed-in to earn a further 5% interest in T/18P in the offshore Bass Basin, containing the Trefoil gas discovery.
• High impact drilling programme in 5 basins in 4 countries involving 6-months of continuous offshore drilling, set to begin. • Yesterday marked the second anniversary of the start of the oil production at Tui. In 731 days, 23.8 million barrels of oil has been produced.

upside_umop
07-09-2009, 09:28 AM
A few of us were talking about AWE at Chch meeting.

It does infact have a market cap over $1 billion. Almost $1.3 billion to be fair.

Here I was thinking more the $700 to $800m! It must have been around a $2 billion co at the peak.

Could be an interesting play with their high impact drillings though...50% of hoki will be big.

geezy
08-09-2009, 07:55 PM
AWE looks great with all the impending drills and existing wells, but why is the share price continue to be suppressed even with oil price back at $70.00?

any thoughts?

Huang Chung
08-09-2009, 08:33 PM
Just been watching one of the Sky Business Channel shows. They had Elio D'amato from Lincoln Indicators on, and he indicated that Tui is in decline and, (rightly or wrongly), their recent exploration results have not matched expectations. His suggestion was to swap from AWE to OSH, which, he noted have a big LNG future in PNG, and are doing well with their mid-east exploration.

Don't shoot the messenger....just passing on what I heard.

Nitaa
08-09-2009, 09:16 PM
Just been watching one of the Sky Business Channel shows. They had Elio D'amato from Lincoln Indicators on, and he indicated that Tui is in decline and, (rightly or wrongly), their recent exploration results have not matched expectations. His suggestion was to swap from AWE to OSH, which, he noted have a big LNG future in PNG, and are doing well with their mid-east exploration.

Don't shoot the messenger....just passing on what I heard.Tui's rapid deyear cline is in line with expectations or slightly better than expectations. Tui has been a great cash cow for the size of the field and set a world record for the shortest length of time for a ROI.

I sort of equate to Tui in the initial stages as a 16 year old boy having sex for the first time...Boom. After a couple of years its like a ninety year old having it for the last time..Dribble Dribble

geezy
24-09-2009, 08:18 PM
AWE discovers oil @ redback

troyvdh
08-01-2010, 07:11 PM
Its quite nice to have our time in the sun...this company has promised so much...long may it continue...on reasonable volumn to boot.

geezy
11-01-2010, 06:26 PM
AWE discovers more oil. is it on the uptrend yet?

STRAT
12-01-2010, 08:11 AM
AWE discovers more oil. is it on the uptrend yet?Hi Geezy
Yup and has been since October 2008.
Break out on 5th Jan 2010. No unusual volume though. May just be the POO

geezy
12-01-2010, 04:56 PM
Hi Geezy
Yup and has been since October 2008.
Break out on 5th Jan 2010. No unusual volume though. May just be the POO

hooray, i see why u laernt how to do some charting other than just fundamentals :)

thanks strat

disc: hold awe

STRAT
13-01-2010, 03:56 PM
hooray, i see why u laernt how to do some charting other than just fundamentals :)

thanks strat

disc: hold aweHaha Geezy, I know bugger all about charting and absolutely nothing about fundamentals

Jay
13-01-2010, 08:29 PM
Haha Geezy, I know bugger all about charting and absolutely nothing about fundamentals

How do you pick your shares then Strat :confused:
Not that I know much about either either ( you can tell I came top in my class for english)
Mainly rely on charting - Phraedrus' that is :-)

shasta
13-01-2010, 08:33 PM
How do you pick your shares then Strat :confused:
Not that I know much about either either ( you can tell I came top in my class for english)
Mainly rely on charting - Phraedrus' that is :-)

Strat once told me, involved a bottle of scotch & a dart board from memory :D

PhaedrusFollower
13-01-2010, 09:24 PM
jay...you are onto it...watch and learn...

STRAT
14-01-2010, 06:50 AM
How do you pick your shares then Strat :confused:
Not that I know much about either either ( you can tell I came top in my class for english)
Mainly rely on charting - Phraedrus' that is :-)
I use FA ( other peoples )
I look for a good story ( other peoples )
I watch world markets and commodity prices
I use charting to the best of my ( limited ) ability
and as Shasta rightly points out a lot of Scotch is involved. Especially after a bad call.

troyvdh
28-04-2010, 05:27 PM
...why the doom on this outfit....It has been my belief that a few pundits are/were quiye positive....mind you some folk do have short term investing horizons....

Oiler
28-04-2010, 05:36 PM
...why the doom on this outfit....It has been my belief that a few pundits are/were quiye positive....mind you some folk do have short term investing horizons....

Lets take this as an opportunity to buy more. In a weeks time when Kan Tan moves to Tui all will be forgotten. I think AWE over hyped HOKI.

geezy
28-04-2010, 06:22 PM
AWE cant be so weak just due to Hoki, can it?

geezy
04-05-2010, 04:47 PM
can someone tell me if theres someone who doesnt like AWE?

POSSUM THE CAT
04-05-2010, 05:52 PM
Geezy yes This Cat would not touch it

Oiler
04-05-2010, 05:57 PM
Geezy yes This Cat would not touch it

Possum dare to tell us why you wouldnt touch it ??? I am all ears :confused:

troyvdh
17-05-2010, 05:38 PM
dear possum...Im with Oiler...re all ears....what and why is happening....im bloody tempted to climb into this company ...to add to my 8000 already...come on ...you can trust us....

bermuda
17-05-2010, 06:11 PM
dear possum...Im with Oiler...re all ears....what and why is happening....im bloody tempted to climb into this company ...to add to my 8000 already...come on ...you can trust us....
AWE puts in a low ball bid for ADI at 40 cents. Looks like AWE want to get into their USA shale gas/condensate. There are a lot of low priced oil stocks out there...

POSSUM THE CAT
17-05-2010, 06:12 PM
Oiler it does not fit my investment criteria & it would possibly alter my NZ tax position and I cannot see it doubling in price with very good dividends in the next Twelve Months.

troyvdh
20-05-2010, 04:54 PM
this is getting a bit silly isnt it......sure the POO has slumped somewhat...but hey what about POO in 1-2 years time....

POSSUM THE CAT
20-05-2010, 06:14 PM
Tryvdh more to the point the price of Awe's shares if it exists in 2years time

Corporate
20-05-2010, 07:12 PM
Note really. Awe hasn't been a compelling buy in the last 8-12months. Far to much hinges on exploration success.

upside_umop
11-07-2010, 04:32 PM
I'm wondering how much lower AWE can go. You would seem pretty safe dollar cost averaging this one over the next few months I should think.

Or you could wait for the downtrend to end, eh P.

Oiler
11-07-2010, 05:21 PM
I'm wondering how much lower AWE can go. You would seem pretty safe dollar cost averaging this one over the next few months I should think.

Or you could wait for the downtrend to end, eh P.

Umop I cant believe that AWE can go any lower, although Phaedrus may disagree with me ;)

I took a punt on Friday and bought 10k more shares and will buy more as we see the price start appreciating more.

Mondays market may give us a hint of where AWE is headed. Brokers have a valuation of $3.00 plus :D

Phaedrus
11-07-2010, 07:24 PM
I cant believe that AWE can go any lower, although Phaedrus may disagree with me. Of course it can go lower. The question is, will it? Answer :- You don't know, neither do I and neither does anyone else.


I took a punt on Friday and bought 10k more shares Now I would disagree with that! AWE is technically weak and in a downtrend - not a good time to buy, regardless of how this particular purchase turns out. Oiler, you obviously do not use TA at all. The blue arrow marks where you last saw an "opportunity to buy more" AWE. Technically, you should not have even been holding any AWE at that time - let alone buying more! I don't know what your trading rules are, but you certainly have broken plenty of mine!
(1) You continued to hold on to AWE when its uptrend had ended and multiple Sell signals had been triggered.
(2) You bought more of a falling stock.
(3) You averaged down.
(4) You added to a losing position.
(5) You tried to pick the bottom instead of waiting for the downtrend to reverse.
(6) You bought (twice) in the absence of any technical Buy signals.


... and will buy more as we see the price start appreciating more. YES! Now that's the way to go! Buy when the shareprice is rising.

Buying downtrending stocks is for mugs.

http://i602.photobucket.com/albums/tt102/PhaedrusPB/AWE711.gif

upside_umop
21-07-2010, 07:09 AM
Sounds site next prospect for AWE (http://www.stuff.co.nz/business/industries/3938335/Sounds-site-next-prospect-for-AWE)

Australian company AWE is about to drill a well close to the Marlborough Sounds, targeting a prospect that could hold up to 100 million barrels of oil, after drilling three duds in Taranaki.

Environmental group Greenpeace said the plan to drill close to D'Urville Island was "quite alarming" after one of the worst oil spills in history at a BP well in the Gulf of Mexico.

AWE is a 42.5 per cent partner in the highly profitable Tui field off the Taranaki coast, which produced about 4.8 million barrels of oil in the June year.

The Tuatara-1 well is about 10 nautical miles (18 kilometres) west of D'Urville Island and about 45km north-east of Nelson. It will take up to a month to drill, starting within the week.

If the prospect did contain 100 million barrels it would be twice the size of Tui. A barrel of oil is worth about US$76 (NZ$108).

AWE said compared with the BP well in the Gulf of Mexico, the Tuatara prospect was in "much shallower water" and they would drill to much shallower depths under the sea floor, with lower pressures than in the Gulf of Mexico.

AWE had drilled 15 wells in the Taranaki basin and would use the same practices at Tuatara.

"We will do everything in our powers to make sure we don't have any adverse reactions there," AWE corporate development manager Garry Marsden said yesterday.

The Tuatara prospect was being drilled in relatively shallow water, he said, about 30 metres deep and would go down about 2000m. That compared with 100m water depth at Tui and 1500m at the BP well in the Gulf of Mexico.

"It is a quantum difference in terms of pressures and the technical difficulties" in the Gulf of Mexico, Mr Marsden said. The resource consents were also more stringent within 12 miles of the coast than further out to sea and AWE was "happy to adhere to that".

"But we are conscious we are in a very environmentally sensitive area there," he said.

Greenpeace campaigner Simon Boxer said the plan to drill close to the Marlborough Sounds was "quite alarming" in an area known for its tourism, recreational and commercial fishing and aquaculture.

"It is a concern, because this is taking place before [Environment Minister] Nick Smith has put together any new health and safety and regulatory structure" for the oil industry, he said.

The review of practices relating to offshore petroleum and mining activities in New Zealand's exclusive economic zone aims to make sure they are up with international best practice.

"Given the lessons of the Gulf of Mexico are still unknown ... it shows us we know very little about frontier deep water [drilling]," Mr Boxer said. Oil drilling was going ahead when it was unclear if a major oil leak could be stopped.

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AWE is a joint venture partner in three recent wells in Taranaki that have all come up dry, the latest being the much-anticipated Kahu-1. AWE has just reduced its stake in the Tuatara prospect to 65 per cent, with new partners coming on board – Roc Oil (15 per cent) and Carnarvon Petroleum (10 per cent) of Australia and Kea Petroleum (10 per cent), which is listed on the British AIM sharemarket.

AWE was the well operator on the dry Hoki-1 drilled earlier this year at an estimated cost of $31.5m as well as the Tui SW well which also came up dry.


Disc: I dont have any.

geezy
21-07-2010, 12:04 PM
awe :( losing half its value while the poo maintains sub 70 is a serious problem. anyone have any idea why?

upside_umop
21-07-2010, 12:20 PM
The main obvious reason would be Tui.

-Problems with one well with work over happening soon (I think).
-3 dry wells so far in the Taranaki basin.

I dont think they have had any other problems anywhere else have they? Rudd Tax...although I thought petroleum companies werent affected by them, ASB Sec placed an uncertainty hit of $170m on their valuation over that.

With 527m shares on issue, AWE had a market cap of 527m*1.49=$785m AUD. This is compared to NZO of around 400m AUD.

It's got to be getting cheap eh? What will be interesting is how prospective the Shale Gas turns out to be....with their cashflows, developing will be no problem if they are commercial.

Does anyone have access to a broker report on AWE with an updated DCF analysis on project by project analysis. Ie Tui, Casino etc individual valuations?

upside_umop
28-07-2010, 09:11 PM
It will also be interesting to see the current book values and NTA assets of AWE. As of 30/06/2009, they had around $1 billion in net assets. Whats the bet they will be trading below net assets?

geezy
28-07-2010, 09:18 PM
arent they already trading well below NTA?

upside_umop
28-07-2010, 09:26 PM
Its hard to tell Geezy, I havent done the calculations but you'd need to take into account depreciation rates on their assets, and I simply can't be bothered spending that time calculating when the annual report is due out soon! They took over an extra 15% of bass gas for well above book value...which has got to be positive. $80 million for 15% if i remember rightly. That implies a discounted cashflows to them of >80/.15*.575=$300m (unless they have to impair the asset this year!).

There is some interesting accounting reading in their notes to the financial statements last year. Doesn't look like ARC's impairment charge will get written back up though.

geezy
04-08-2010, 02:17 PM
Looks like AWE might be looking at a break out and rally back up to 2.50?

macduffy
04-08-2010, 02:28 PM
Looks like AWE might be looking at a break out and rally back up to 2.50?

$2.50 might be a bit optimistic this time round. But having loaded up a bit in the $1.60 - $1.64 range, I'd settle for something north of $2.00.

geezy
04-08-2010, 03:46 PM
well done macduffy, yes 2.50 does sound overly optimistic.

A new well on the cards or oil price above 80?

Dr_Who
04-08-2010, 04:32 PM
Do AWE have any hedging or are their oil sales based on market price?

troyvdh
04-08-2010, 04:38 PM
...whats going on...on a down day ... AWE of the top 25 dollar value trades is the highest gainer ...5.9 %,,,,,...cell phones perhaps....

i aint complaining...

...well ...AWE was in the top 25 ....still it appears the biggest dollar gainer by far....

macduffy
05-08-2010, 07:27 AM
Do AWE have any hedging or are their oil sales based on market price?

I can't find the reference but I'm fairly sure that AWE's Tui oil is sold on a Tapis related basis, ie fluctuates with the market.

Almost half of their boe output last quarter was gas from the Bass Gas and Casino fields. This is apparently sold under long term contracts, based in AUD but with CPI escalator provisions.

p2r
16-08-2010, 12:09 PM
Tuatara getting filled with concrete. Oh well no Tui found in Marlborough Sounds to go with the savy.
Still production is ramping up for AWE (see latest presentation) and any dips not too drastic, more of a buying opportunity and plenty of buyers so I am positive about this company going forward.

geezy
24-08-2010, 09:49 PM
hammered with todays loss result.

ELYOB
24-08-2010, 10:08 PM
Looks like a shake up of the company is taking place . Could have been better run . One doesnt have to drill necessarily these days . You can buy it cheaper with certainty . As such with ADI....

geezy
08-11-2010, 07:14 PM
looks like a break out on the cards?

COLIN
08-11-2010, 09:47 PM
looks like a break out on the cards?

By golly, you might just be right, geezy. Time to pay attention again, after a long absence.

upside_umop
09-11-2010, 11:20 AM
Shale is now confirmed to be semi hot in Australia.

Now the confirmation is there....I'm buying some for the medium term.

NWE or AWE is the question....or even WGP (microcap at ~2.5m market cap).

geezy
09-11-2010, 01:23 PM
gigantic jump today in both NWE , and AWE, is this a confirmed uptrend?

upside_umop
09-11-2010, 05:27 PM
Wow, what an amazing finish!

Ended up getting a few NWE and WGP together - half half split.

I might try and free some funds up for this larger cap too...theres just something I've always liked about them.

Well done Oiler for accumulating down low!

geezy
09-11-2010, 07:08 PM
I hold a couple but at a much higher rate , m thinkin to load up and enjoy the ride . but this is the strongest i have seen in such a long time from AWE

tricha
09-11-2010, 08:54 PM
Shale is now confirmed to be semi hot in Australia.

Now the confirmation is there....I'm buying some for the medium term.

NWE or AWE is the question....or even WGP (microcap at ~2.5m market cap).

You forgot BPT, like most of the market has, when it awakes, we shall see $2.00 +, sold some of my cheap AWE today, my dear ones will have to wait.

COLIN
09-11-2010, 09:38 PM
gigantic jump today in both NWE , and AWE, is this a confirmed uptrend?

Looks like you read it very well, geezy. Congrats.
I was of a mind to jump on board today, but couldn't bring myself to release funds from other promising areas. But we'll see what tomorrow brings. Will probably have a breather, I would calculate, but likely to resume its recovery soon thereafter.

upside_umop
10-11-2010, 05:54 AM
You forgot BPT, like most of the market has, when it awakes, we shall see $2.00 +, sold some of my cheap AWE today, my dear ones will have to wait.

The only thing with BPT is that it's program is in the cooper basin? I've read a few negative analysts views on this. The negativity comes from Shale competing against CSG on the East Coast. Western Australia is a different beast though.

COLIN
10-11-2010, 09:11 PM
Looks like you read it very well, geezy. Congrats.
I was of a mind to jump on board today, but couldn't bring myself to release funds from other promising areas. But we'll see what tomorrow brings. Will probably have a breather, I would calculate, but likely to resume its recovery soon thereafter.

Yes, looks like a breather alright.
A spectacular performance by WGP today, a company not known to me but obviously requiring some study in view of the spotlight on WA shale gas.

upside_umop
10-11-2010, 09:31 PM
Yes, looks like a breather alright.
A spectacular performance by WGP today, a company not known to me but obviously requiring some study in view of the spotlight on WA shale gas.

I was following them for a while, but waiting for something to happen with Shale in WA, as that is all they really have going on.

WGP have 10% free carried from AWE on a permit that intersects AWE's prospective permit and the bed of shale. They settled a little too cheap I believe, but their other permit which is surrounded by AWE is 100% owned. There is a lot of potential there...

This is still for a market cap of around $6m. I wouldn't load up too heavy however, as a rights issue is surely to come with only around a quarters worth of cash remaining ($300k burn rate). I also wouldn't be surprised to see it fall back somewhat, as there may not be a 'constant' stream of news from now.

I'll set up a thread tomorrow, if someone hasn't done it before and explain it a little better. Like I said, I only have a small amount, although they are worth 100% more than yesterday.

COLIN
10-11-2010, 10:03 PM
I was following them for a while, but waiting for something to happen with Shale in WA, as that is all they really have going on.

WGP have 10% free carried from AWE on a permit that intersects AWE's prospective permit and the bed of shale. They settled a little too cheap I believe, but their other permit which is surrounded by AWE is 100% owned. There is a lot of potential there...

This is still for a market cap of around $6m. I wouldn't load up too heavy however, as a rights issue is surely to come with only around a quarters worth of cash remaining ($300k burn rate). I also wouldn't be surprised to see it fall back somewhat, as there may not be a 'constant' stream of news from now.

I'll set up a thread tomorrow, if someone hasn't done it before and explain it a little better. Like I said, I only have a small amount, although they are worth 100% more than yesterday.

Thanks for that, UU, and I look forward to your further comments.

Oiler
12-11-2010, 05:34 PM
Wow, what an amazing finish!

Ended up getting a few NWE and WGP together - half half split.

I might try and free some funds up for this larger cap too...theres just something I've always liked about them.

Well done Oiler for accumulating down low!

UU you may recall a couple of months ago I was "chastised" for buying on on a falling market ($1.50s) :confused::confused:

I dont know how TA could have told us to buy on Tuesday when AWE took off again. :t_up:

Picked up a few WGP today and will do some more reading up this weekend

upside_umop
12-11-2010, 05:39 PM
UU you may recall a couple of months ago I was "chastised" for buying on on a falling market ($1.50s) :confused::confused:

I dont know how TA could have told us to buy on Tuesday when AWE took off again. :t_up:

Picked up a few WGP today and will do some more reading up this weekend

Oiler, I do remember! $1.50 was bargain, and of course it's very easy to say this in hindsight, but it absolutely was for a stock this diversified and potential grunt. The amount of shale permits AWE have give this amazing leverage for the size of the stock for basically free, given the Net Tangible Assets in the financials are still above market capitilisation (don't bring me down too much on this KW...watched the video's and thought they were great!).

I look forward to hearing what you think about WGP. I'm looking at getting some options, even though they are still well out of the money. They do provide a lot of leverage with the shale program coming up in early 2011 but have the downside risk of management falling short on a favourable capital raising/farmout of DR11.

Corporate
01-06-2011, 07:29 PM
Anyone still holding/watching AWE?

Skol
01-06-2011, 08:30 PM
I have. Technically, looking quite promising, but below where I bought them. The NZ hole was a duster.

troyvdh
29-06-2011, 06:52 PM
...again I dont get it ...this outfit supposedly has no debt...$75M cash in the bank...and 70 M barrels yet to suck up....and yet the SP heads south....I really hate being so naive....again...

..it would be appreciated if folk were beter informed ..to say so...

macduffy
29-06-2011, 08:00 PM
AWE aren't the only unloved energy stock at present.

Maybe the market expects the PoO to continue to weaken or maybe it's just the current general market malaise?

troyvdh
15-07-2011, 02:22 PM
...up nigh on 30 % in a month....funny old world...

macduffy
29-07-2011, 02:08 PM
AWE sells its 13.3% interest in BRU, a legacy from the takeover of ARC in 2008.

http://asx.com.au/asxpdf/20110729/pdf/42029mbnf1c337.pdf

JBmurc
01-09-2011, 09:17 PM
WHATEVER happened to AWE? In early 2008, AWE’s market value nudged $2 billion and the company was on its way to becoming the next Oil Search.

Bruce Clement

The Sydney-based company’s crack exploration team could not put a foot wrong, and the future looked unlimited.

Even the global financial crisis was unable to slow the company. With almost $350 million in cash at June 2008, AWE was expected to swoop on one or more of its weakened peers and/or take its pick of the distressed assets coming on to the market.

Instead, AWE continued down the path that had served it so well since the company began in 1997. Over the next three years, AWE spent more than $300 million on exploration, mostly in the hope of finding the next Tui field, in the Taranaki Basin offshore New Zealand.

But exploration fortune began to desert the company. Investors held their nerve for almost two years, but their patience cracked in March 2010 with the failure of Hoki-1 to discover a hoped-for field of 250 million barrels of oil.

The company’s market cap slumped from $1.3 billion to $900 million, and continued to fall as low as $550 million at the beginning of last month – less than a third of AWE’s pre-GFC level.

The reasons for AWE’s run of exploration disappointments are unclear and will be debated within the industry for years to come. But with investors no longer trusting the company’s big-risk approach to exploration, the need for AWE to invent a new future is perfectly clear.

In late 2010, the board recruited Bruce Clement from Roc Oil to replace Bruce Wood as managing director. This followed a return to the company by founding managing director, Bruce Phillips, in the role of non-executive chairman. Phillips, who retired as managing director in 2007, replaced outgoing chairman Bruce McKay, as part of a number of new director appointments.

Clements has the experience and qualifications investors were demanding to steady the ship at AWE. He stepped into the top executive position at Roc after the company’s founder John Doran passed away suddenly in June 2008.

Like AWE, Roc was also suffering from an exploration hangover. As the company’s long-serving CFO, Clement had the discipline to shepherd the company through the darkest days of the GFC.

AWE is in a much stronger position financially than Roc when Clement took the helm, but the challenge is similar.

The reshaped board and the new CEO this week made a clean break with the past with the release of AWE’s financial results for the year to June 30, 2011.

The company announced a net loss of $118 million, which reflected post-tax write offs of $61 million related to exploration assets in Yemen and the Bass Basin. These were acquired in the early 2008 takeover of Arc Energy.

The company also wrote off $63 million of exploration costs in the FY11 year.

Investors were happy the news was not worse and the company’s share price has actually improved slightly this week.

Investor presentations this week have emphasised the company’s solid base of assets, such as BassGas, Cliff Head and the work programs to optimise production. The biggest project at present is the BassGas Mid-Life Extension project, which will improve capacity and production reliability.

The jury is still out, however, on whether the company can provide the kind of growth that shareholders expect.

Investors will not allow the company to seek growth through big spending on exploration. The exploration budget has been reduced accordingly to $50 million in FY12 compared to $70 million in the previous year and about $150 million two years earlier.

The company must look elsewhere and is finding its best opportunities onshore in assets acquired through the takeover of Arc. While the Yemen and the Bass Basin assets disappointed, Arc’s interests in the onshore Perth Basin and in Adelphi Energy in the US have provided AWE with exposure to hot properties in unconventional gas.

AWE’s tight gas and shale gas plays in the onshore Perth Basin have developed quietly for a number of years and the company is a leader in the race to become Australia’s first shale gas producer.

Tight gas production began in 2009 when Corybas-1 was fracture stimulated and tied into the nearby Dongara field.

In shale gas, AWE has been studying for almost three years the production potential of the Carynginia shale beneath the Woodada gas field in the southern onshore Perth Basin.

In April 2010, AWE drilled Woodada Deep-1 to obtain core samples and participated in the Norwest Energy-operated Arrowsmith-2 in EP-413 in May of this year to test the Carynginia shale and Irwin River coal measures. Core from Woodada Deep-1 has received favourable results from testing in the US.

Deliverability of onshore Perth Basin shales is due to be tested in the current quarter by fracture stimulation, although this may be delayed by environmental approvals.

The company has identified three plays, and has made a gas-in-place resource estimate of 13 to 20 trillion cubic feet in the middle Carynginia shale, which gives some indication of the size of the unconventional opportunity. Based on US shale gas experience, the recoverable gas reserve in the middle Carynginia shale could be around 4Tcf.

With more than 600,000 acres of shale gas acreage in the onshore Perth Basin and multiple shale units, AWE’s unconventional gas numbers could develop much further.

In the US, AWE has recently strengthened its position in unconventional gas by completing a $32 million takeover of Adelphi Energy. (AWE already held almost 34% of the company). Adelphi holds a 10% interest in the Sugarloaf shale gas project, which is in the thick of the US boom.

While the gas upside is exciting for AWE on a number of fronts, it still adds up to a shift away from the high value, high margin oil business on which the company made its name.

The new path for AWE will be less exciting, but less risky as well. In time, maybe the market will let it roll the dice again and see if it can regain its exploration mojo.

Skol
14-11-2011, 03:43 PM
AWE 's on the move at the moment up 11c today and up 60% in the last 2 months.

geezy
14-11-2011, 03:51 PM
AWE 's on the move at the moment up 11c today and up 60% in the last 2 months.

Great stuff i'd say but still less than half of the value when it was 3.00 !

macduffy
14-11-2011, 04:35 PM
Indeed!

Reinforces my view that oilies are for trading, not for the bottom drawer!

I don't always follow my own advice. Still have a few AWE tucked away down there at an average cost of $1.97.

Skol
14-11-2011, 04:39 PM
yeah I bought some a week ago but the average is still above what I bought them for.

macduffy
08-12-2011, 10:17 AM
AWE sells part of its Bass Basin portfolio and announces 5cps special dividend.

http://asx.com.au/asxpdf/20111208/pdf/4234r93d5shdrd.pdf

OldRider
25-01-2012, 11:40 AM
For any holders who received the latest AWE dividend,
documentation arrived in mail today and I noted there were attached NZ imputation credits,
a nice bonus.

geezy
29-01-2012, 04:00 PM
latest acquisition on a producing well in indonesia seems like a great idea, and they are also partnering a cash rich gaming giant Genting.

Looking better and the SP has recovered a little bit. Will we see the previous highs again?

ELYOB
30-01-2012, 10:15 AM
The selling of BRU stake appears to me to be a bad move . Early changes to the board appears to have cause of SP slumping as a key man is no longer there . And so on . AWE seems to cover things over and move on . Even some companies that AWE is involved with seem to do this same thing ....which is not good . Ok , AWE is said to be undervalued but wouldnt expect any sprinting. Dont expect too much from shale in the Perth Basin as it is a long capital intensive journey to get it up, more than 10 years [5 years of full testing] to be meaningful. They will need ...Alcoa? in on the game there or AWE will bleed? Note that the delayed testing of A-2 will only be a partial test. They will be playing with this well all year . People havent understood this process clearly . After the partial test ,they will have to workout a long test plan and shale field plan , which seems to take 4-5 years .

AWE = ?

Crypto Crude
06-02-2012, 12:52 PM
Elyob,
Shale gas is a very compelling story...

The huge leverage to these extreme resources should have market players circling sooner rather than later...
and right now, it seems like its going down that direction...

any decent development is going to take a good 4-5 years...
its nothing new...
The steady re-rate as we go through the necessary phases
:cool:
.^sc

troyvdh
16-03-2012, 07:37 PM
...wow...awe has done well ...100 % in 12 months,,,,,in addition...the "depth"..is encouraging.....yet the drums are very quiet.....

upside_umop
25-06-2012, 08:27 PM
....and....awe is almost down again 50% in the last 6 months!

Crazy isn't it?

AWE - a brief look:

- 21 mmbo of 2P liquids
- 35 mmboe of 2P gas
- 180 mmboe 2P + 2C resources

- Recently sold 11.25% in BassGas to Toyota for $80m, giving their implied value on the remaining 46.25% of ~$330m.
- Have ADI's stake in Sugarloaf field... 10% (see price appreciation of AUT / EKA since their acquisition of ADI - you would have to say it's been a good one!)
- Arrowsmith-2 Frac coming up
- 43mmbo (yes oil) in their 100% oil project they recently bought in Indonesia...looks to be a highly leveraged play. Looking to get to FID and then farm down...
- BassGass development
- Got a bit of cash too >$100m net.

As well as this, they have a strong core business with 4.7mmboe forecast for FY12 / $270m to $300m revenue.

Market cap: $667m

Percy would be pleased to see that even AWE are bullish on the future...from their latest presentation "AWE is well positioned to benefit from anticipated gas and liquids price growth!"

Disc: Don't have any. But if they get to $1 - I'd buy a lot...

macduffy
26-06-2012, 07:52 AM
And how often do I have to tell myself that oilies are for trading, not for the longterm portfolio!

(Yes, I still have a few at $1.97.)

:mad ;:

troyvdh
26-06-2012, 03:02 PM
dear mac....how true....however I suspect that once again....when the POO....turns up....AWE may well again be a stellar performer...Im stating the obvious I know ...how bright do you need to be to make money...an important factor obviously is possessing a little patience obviously.

Crypto Crude
27-06-2012, 07:06 AM
so so true... over the years we have seen countless oilers perform as trading stocks, and to a lesser extent, investing stocks...

It seems very hard for oilers to realise their true values...
and then often the market can hype announcements

but this time... I plan to hold through shale gas ... and i'm well positioned for the upturn

:cool:
.^sc

troyvdh
27-06-2012, 04:28 PM
SC....are you implying that shale gas is suppressing prices/share prices..and that eventually this situation will subside.....or have i read you completely wrong.....cheers anyway...

Crypto Crude
28-06-2012, 06:41 PM
SC....are you implying that shale gas is suppressing prices/share prices..and that eventually this situation will subside.....or have i read you completely wrong.....cheers anyway...

yep,
you have read it wrong... or I have written it wrong...

I am talking about the sector in general as a trading platform rather than investing...
stocks of yester years were great investing stocks at the time, many were strong revenue earning stocks, or heavily in development... NZO prime example, AWE,, HZN,CUE, AMU 20-> 140->20, BPT done nothing for 6 years, Caltex Australia,ELK , Even the infamous KAR, has fallen from $10 to $4, and went below $3, shedding back profit runs from 2007, LNC a pure example, MEO another,PPP, NXS oh wow, OEL a big laugh, ...
PSA cents to $3, back to cents, STO, TAP TAP TAP, AED

many of these company started out, or grew from a few cents, into $1, 50 cent companies, or rose 10 bagger... and probably every single one of these companies, is on the down and down... many are back to where they started...

so as for investing, it has been very poor in the energy sector, but super strong as a trader...

I am not trading away shale gas...

everything before this suggests I should trade...everything I read, see, suggests I shouldnt...
so far?
I should have traded, esp TTEO...
but, im happy about it,
I'm holding something little bit juicy...


:cool:
.^sc

Corporate
29-07-2012, 02:58 PM
Well with NWE the focus of many. I'm considering whether AWE is worth a punt.

NWE currently has a market capitalisation of $71m for 28% of EP413...which translates to ruffly $112m for AWE's 44% (crudely assuming that there is no value to any of NWE's other assets).

It is interesting though, AWE doesn't seem to promote Arrowsmith as much as NWE.

upside_umop
29-07-2012, 03:27 PM
I like AWE and one day might park up in them if they are cheap enough and I need a break from researching. A strong, diversified oiler that seems to be able to do good business deals. Oil and gas is a great place to park up into over the long term - everyone needs energy.

macduffy
29-07-2012, 04:59 PM
Well with NWE the focus of many. I'm considering whether AWE is worth a punt.

NWE currently has a market capitalisation of $71m for 28% of EP413...which translates to ruffly $112m for AWE's 44% (crudely assuming that there is no value to any of NWE's other assets).

It is interesting though, AWE doesn't seem to promote Arrowsmith as much as NWE.

Probably because AWE, with a M/Cap of $730, doesn't see Arrowsmith being as important to its fortunes as NWE does?

The Big Ease
29-07-2012, 08:45 PM
exactly macduffy.
If A-2 added 200m to NWE, that's a massive increase of 300% from here but only around 30% for AWE.

troyvdh
28-08-2012, 04:35 PM
....why the collapse.....imp div....beats me...mind you that would not be hard....cheers

macduffy
28-08-2012, 04:48 PM
Troyvdh, I think you'll find that the div was paid in January - and will have already been spent!

Cheers

troyvdh
28-08-2012, 05:05 PM
.....yea good point....However I remain an optomist......thanks for that....not......cheers...

troyvdh
31-01-2013, 12:21 PM
FNArena today.....AWE has been near $2 twice in the past 3 years .cheers troy


Citi rates AWE as Buy, High Risk (1) - Target $2.20 (was $2.14). The broker thought it was a strong December quarter and while a tad shy of the broker's forecasts, it was still a 33% improvement on the last quarter. Revenue beat Citi by 19% on an inventory drawdown from Tui that resulted in a more oily sales mix.
FY13-15 earnings forecasts are lifted by 30%, 4% and 2%, with the price target getting some extra help on a lifting of the broker's valuation for Ande Ande Lumut. Buy call maintained, with the broker remaining bullish on the company's prospects.
Target price is $2.20 Current Price is $1.24 Difference: $0.96 If AWE meets the Citi target it will return approximately 77% (excluding dividends, fees and charges).
The company's fiscal year ends in June. Citi forecasts a full year FY13 dividend of 0.00 cents and EPS of 2.50 cents .
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 49.60.
Market Sentiment: 0.7
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.3, implying annual growth of - 141.8%.Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.Current consensus price target is $ 1.80, suggesting upside of 45.5%(ex-dividends).Current consensus EPS estimate suggests the PER is 23.3.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Minerbarejet
01-02-2013, 07:56 PM
Signs of movement here - 1.5 mill traded in about 10 mins this afternoon with a day total of about 5 mil- one trade took out about 1 mil so someone or something is into it. Nice recovery from 1.15 in three days, long may it continue.

Crypto Crude
02-02-2013, 02:04 AM
hey Troy,
AWE is a super company...
unfortunately it is not one that fits my current strategy...
:cool:
.^sc

troyvdh
02-02-2013, 11:08 PM
...Giday...why not ...like i say..in the past 3 years it has had two runs at $2.... from about $1....the returns if one had traded are like 200 %....for someone like me I would be quite ecstatic...particularly if the sums in involved were in the 100k$...I honestly envy you if you are doing better...well done...cheers troy...

Minerbarejet
13-02-2013, 10:40 AM
On the move again I see. Is it just the feasibility at Senecio that has it up from 115 to 143 with lots of bidders this morning before open or is there something I have missed. Any clues guys.
Disc: Holding AWE, NWE, AOH

macduffy
04-04-2013, 03:55 PM
AWE has increased 2P reserves at its Sugarloaf AMI by 67% to around 16mbbls. Macquaries retain "Outperform", market unimpressed and marks the SP down with most other resources stocks today.

I hold a few, well under water!

troyvdh
04-04-2013, 05:06 PM
...Dear mac...Im buggered as well as to why the MKT ...indeed adopts such a negative view.....are there other "factors in play"....one thing that does intrigue me is (my opinion only) when I view a site like aussie stock forum is the paucity of information offered compared to this site.....(similar to car reviews...I would venture to say that Dave Moore is probably the best I have ever read)....perhaps a lot of aussies are chartists......and ignore company announcments ????...anyways cheers....PS...me to am underwater...

Minerbarejet
04-04-2013, 06:11 PM
First time AWE has been on for a while. Definitely seems to be getting oversold on the RSI chart.
Peculiar that they announce 67% increase and then drop considerably. May get a few more at this price. NWE seems affected as well - getting a bit oversold. Getting on the RSI uptick sometimes works

macduffy
04-04-2013, 07:33 PM
Of course the Sugarloaf field is a relatively minor part of AWE's portfolio. All the same, just goes to show that when a sector loses favour with the market as resources have lately, SP's can get badly knocked around. Must be some stocks worth closer inspection there now for those with the time and inclination to do the research!

Minerbarejet
04-04-2013, 07:47 PM
Of course the Sugarloaf field is a relatively minor part of AWE's portfolio. All the same, just goes to show that when a sector loses favour with the market as resources have lately, SP's can get badly knocked around. Must be some stocks worth closer inspection there now for those with the time and inclination to do the research!
amazes me that there has been a buy recommendation sitting at 2.60 or thereabouts for ages. been at half value most of the time and every time it looks like going somewhere it turns around back down to under where it was. have picked it twice but missed the last one

macduffy
21-05-2013, 03:25 PM
A snippet from Macquaries:

"AWE AWE Outperform
Adding to the resources base at AAL
• Following an independent review by RPS, AWE has released updated reserves and resources for the Ande Ande Lumut (AAL) development, offshore Indonesia.
• Recoverable oil of 101mb implies a recovery factor of 34%. AWE's net entitlement of 50mb increases corporate level 2P reserves by 83% to 110mmbbls.
• Maintain Outperform. The resource upgrade bodes well for the AAL partial sale and points to a strengthening track record of reserves replacement."

Now that's a substantial increase to the company's 2P reserves!

:cool:

macduffy
21-05-2013, 04:09 PM
....... and Citi thinks the market has underestimated the value of Sugarloaf and AAL. Has a "Buy. High Risk" on the company, with a target price of $2.24.

Minerbarejet
21-05-2013, 06:04 PM
Well at least we have had a couple of days of reasonable gains. Cannot figure this lot out -nothing but positives and its sitting there bouncing up and down between 1.12 and 1.25. would like to see a breakout upwards of some sort as it is getting pretty boring. Talk about the long haul - whew.:)

macduffy
27-05-2013, 07:25 AM
From ShareCafe:

Australian-based oil producer and explorer, AWE (AWE), has welcomed a reserve upgrade at the Ande Ande Lumut (AAL) oil field, offshore Indonesia. This field is wholly owned by AWE and the company has previously announced a sale process whereby up to 50% of the asset may be sold down. The outcome is expected at the end of the September quarter. The upgrade to reserves is timely, as brokers believe it will enhance the attractiveness of the asset in the sale process.

The independent assessment has resulted in gross 2P - proved and probable - oil reserves increasing to 101 million barrels from the previous estimate of 76mmbbl. The net entitlement oil reserves estimate has increased to 50mmbbl from 43mmbbl. The smaller increase in net entitlement highlights the low profit share for the asset. AWE originally acquired the field for US$139 million in 2011.

UBS models a 25% contractor profit share in valuing AAL. What surprised UBS was the company's realised oil price expectations - at, or around, the Brent price. The oil in AAL is quite heavy and the broker had expected it would sell for a discount to Brent. UBS assumes a sell down for AAL will net US$100m for a 50% interest, but could be as much as US$140m if higher oil price assumptions are used. Macquarie estimates AWE could realise up to US$110m. Macquarie's oil price forecasts help. The broker values a development of the primary K-sands at US$5.3/barrel of oil equivalent and this compares favourably to the US$1.8/boe value in the original acquisition price.

Citi rates AWE as a Buy and thinks the market is underestimating the value of AAL. A sell-down by the end of September will confirm it has been a value-adding acquisition. The broker values AAL at 59c a share to AWE and thinks the Sugarloaf asset is also undervalued, attributing 55c a share to that asset, net to AWE. While cautious on shale gas in Australia and concerned about attributing too much value prematurely, Citi believes AWE is still a strong growth contender because of a recovery in the Bass Strait gas production, continued growth at Sugarloaf and at AAL. Citi believe that AAL will add 25% to AWE production in FY16.

Adding to the AAL momentum is Yolla field, which has shown a positive performance to date with production ramping up to 57 terajoules/day from 42TJ/d. This, in BA-Merrill Lynch's view, is a key asset for AWE and contributes 30% of the broker's valuation of the stock and 25% of estimated earnings in FY13. Merrills has thought the value of AWE's base business was being discounted by the market because of prior poor performance from Yolla. This is now expected to dissipate. Macquarie also thinks, with hindsight, that the acquisition of AAL, and Adelphi Energy in 2010, were cheap buys for AWE. In the light of the expanded reserves the price of AAL acquisition equates to just US$1.02/barrel.

As with all oil development there are copious risks. UBS finds the key risk at AAL relates to the reservoir and how oil and water production rates change over time. Only three vertical wells have been drilled into the field to date and there is a a good chance that the reservoir is not even throughout, meaning there could be a lot more water earlier in the field life than is currently modelled. The broker concedes that AWE is mitigating this risk somewhat by the large number of development wells that are planned (up to 43) and the high level of water handling being built into the facility. This should allow the field to maintain 25,000 bopd production rates, even as the water cut increases materially.

The FNArena database contains five Buy ratings and one Hold (Deutsche Bank). Where the brokers mostly diverge is on the methodologies that they use to derive value, and hence the price objectives. This has produced a target price range on the database of $1.40 (Deutsche Bank) to $2.50 (Macquarie). Macquarie has reached a valuation that reflects the larger resource base at AAL and produces a 7% rise to net asset value (NAV). The broker's target price represents a 15% discount to the new risked NAV. Macquarie assumes a potential buyer for the sell down of AAL adopts a similar oil price and discounts the substantial progress made regarding sub-surface optimisation, with a 60% risk weighting for the K-sands in AAL.

Towards the other end of the scale (Deutsche Bank has not updated as yet), BA-Merrill Lynch has a target price of $1.55 with a 15% discount to valuation derived from discounted cash flow. The broker's target is based on a US$100/bbl price for Brent (realised 2016) and domestic gas prices of $4.00 per gigajoule. UBS, which upgraded the stock to Buy from Hold on this news, has valued the stock on the assumption $100m is received for the 50% stake and this is paid in cash in the first half of 2014. The broker's sum of the parts valuation increases to $1.70 a share and a 10% discount is applied to account for uncertainty surrounding AAL's development and the BassGas development phasing.

All up, the consensus target price of $1.86 suggests 48.5% upside to the last share price. AWE obtains production and revenues from the Tui project, offshore New Zealand, plus Australian oil and gas assets in Bass Strait and Perth Basin, In FY12 AWE’s total production was 4.7million barrels of oil equivalent, split between oil (36%), gas (55%) and gas liquids (9%).

Minerbarejet
27-05-2013, 07:55 AM
thanks for that macduffy - Ill hang in there and see what sept quarter announcement does to things
Cheers
:)

ELYOB
30-05-2013, 12:37 AM
Bit of love for AWE today , and this indicates that Fundies are there on sidelines . 1.19 --> 1.27c . Goldman Sacks was deemed the cause , but I feel H2 2013 was the time for the patch to come back ! 2014 is looking good for energy with factors coming to play after 2 years hibernation . I actually feel ROC is the one to watch ... if that gets going, this will too !!

Minerbarejet
27-06-2013, 03:22 PM
AWE to play things closer to the chest and stopping premature leaks of price sensitive information. Up 8.5 on the day so far but could be because Aussie is having a good day for a change.
Sept could be interesting re AAL.
:)

macduffy
04-08-2013, 01:14 PM
It seems a little optimistic to me but Macquaries have a DCF valuation of $2.94 on AWE and a 12 month price target of $2.50.

I hold a few.

ELYOB
04-08-2013, 07:01 PM
If the oil patch can get fired up AWE is likely to be much higher. So will other mid-caps.... HZN DLS SXY etc,. .... research has it this must happen traditionally by early Dec2013 , or in the cycle oilers will get hammered

Huang Chung
22-08-2013, 08:53 PM
Anybody catch today's announcement?

http://stocknessmonster.com/news-item?S=AWE&E=ASX&N=751103

Looks like a very credible deal.

Reflects a good job of value adding over a relatively short period (18 months or so). Still huge upside from their remaining stake.

macduffy
27-08-2013, 10:45 AM
AWE posts the expected strong result.

http://asx.com.au/asxpdf/20130827/pdf/42hy4yylf323z5.pdf

Huang Chung
27-08-2013, 05:01 PM
Market doesn't seem to care unfortunately....

Huang Chung
27-08-2013, 11:48 PM
Have a listen to the BRR presentation if you get the chance.

Seems like a management team that knows it's stuff, and communicates well with the market.

AWE would appear to have a very bright future :cool:

macduffy
28-08-2013, 09:37 AM
Yes, HC. A good presentation - but you need the best part of a spare hour to listen to it!

AWE seem to have the next several years' production sorted one way or the other but there's no shortage of plans to spend the revenue - on development and further exploration. That's the way with these oilies, I guess, but it would be nice to think that a dividend might be forthcoming once the expected $60m NPAT from sale of 50% of the AAL project to Santos is in the hand. I've held AWE for longer than I care to remember and I think there's only been one 10c div in the last many years. Not that one holds these things for the divs but an occasional pleasant surprise wouldn't go amiss!

;)

Huang Chung
28-08-2013, 11:04 AM
I'm only new to AWE, but I'll have to politely disagree about the divvy mcduffy.

I'm happy to miss out on a divvy, if the profits are sensibly utilized in developing bigger and better projects (such as AAL) as well as a reasonable and balanced exploration spend to keep growing the pie. Keeping the profits in the company's bank account also helps mitigate a large debt load, or excessive dilution to fund future developments.

macduffy
28-08-2013, 12:23 PM
Fair enough, HC.

For most companies I'd agree with that 100% but oil companies tend to have a nasty habit of ploughing profits into the next big project - which far too often turns out to be a duster. All well and good for building the empire, paying the directors' fees and salaries but not a lot of joy for shareholders who don't actively trade the shares. Which probably means that I shouldn't be holding AWE - but one lives in hope!

:mellow: