AWE Limited is an Australian energy company focused on upstream oil and gas opportunities. The company has recently been the focus of an off market takeover offer by Mitsui & Co., Ltd. which closed at 7:00pm (Sydney time) on 2 May 2018. Mitsui has commenced the compulsory acquisition process for the remaining AWE shares.
AWE was established in 1997 and listed on the Australian Securities Exchange (ASX: AWE), the company’s headquarters is in Sydney with an office in Perth. AWE has a substantial portfolio of production, development and exploration assets in Australia, Indonesia and New Zealand.
The company’s asset portfolio has been optimised to focus on gas in the near to medium term and is aligned with strengthening Australian domestic gas markets.
The company’s priorities centre on the development of Stage 2 of the Waitsia gas project in Western Australia and securing new gas sales contracts for Casino and BassGas on the east coast at substantially higher prices.
AWE shareholders are being asked to consider a takeover bid from Mitsui & Co,. Ltd.
Listed on the Australian Securities Exchange (ASX), AWE has reshaped itself to operate in a low oil price environment with a near-term focus on domestic gas production.