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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
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 Originally Posted by SEC
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.
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Originally Posted by bermuda
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!
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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
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Originally Posted by SEC
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
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Apparently $1.58 per ARQ share.
Trading halts in the next quarter of an hour?????
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Originally Posted by Huang Chung
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
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Originally Posted by tricha
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? 
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 AWEsome
Originally Posted by Huang Chung
Settle T.....don't you mean AWE?
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
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
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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
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