AWE has consolidated and refocused its operations, reshaped strategy to operate in a low oil price environment, and begun the transition to the next generation of production assets. The company is now a leaner, more efficient and focused business with a refreshed management team and a suite of long-life development assets. AWE's near to medium term focus is on increasing production and revenue from high value domestic gas projects, while retaining exposure to oil price upside through the development-ready Ande Ande Lumut oil project in Indonesia.
AWE's CEO and Managing Director, David Biggs, outlined the company's vision for growth in the HY17 results presentation (released 28 February 2017). Key highlights are summarised below:
A clear vision for AWE
AWE aims to more than double production by FY21 and become a leading Australian mid-cap E&P company by:
Unlocking value in AWE
For a complete copy of the HY17 results presentation, click here. To listen to the webcast, featuring CEO David Biggs and CFO Ian Bucknell, click here.
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.