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AED was established for the purpose of acquiring, developing and commercialising specified oil fields and undertaking oil exploration. Its current operations are the Puffin and Talbot fields located in the Bonaparte Basin in North Western Australia. In June 2008, Sinopec International Petroleum Exploration and Production Corporation acquired a 60% joint venture interest in AED's assets held under AC/P22, AC/L6 and AC/RL1 (which include the Puffin and Talbot fields).
Company History
AED was listed on the ASX on 3 May 2005. In 2005, AED acquired Ashmore Oil Pty Ltd. In June 2008 ,Sinopec International Petroleum Exploration and Production Corporation acquired a 60% joint venture interest in AED's assets held under AC/P22, AC/L6 and AC/RL1 (including the Puffin and Talbot assets. On 28 May 2009, AED entered into a 50% joint venture interest in the Longtom project (VIC/L29) and the exploration permit VIC/P54 with Nexus Energy Limited.
Differentiating Factor
AED's focus is on developing the reserves in the Puffin Field and on exploring the Fairfield Prospect. The company uses state-of-the-art technology, including pre-stack depth migration techniques, to assist in assessing potential targets.
Major Customers & Competitors
AED is currently in the process of exploring and developing potential projects and as a result do not have customers. The company's competitors include other oil exploration companies including Bass Strait Oil Company (BAS), Caspian Oil and Gas (CIG) and Horizon Oil (HZN).
Financial Summary
Year to n/a
NPAT Rep $M
NPAT1 Adj $M
EPS c
EPS chg %
PER x
PER rel All Ords x
PER rel Sector x
DPS c
Yield %
Franking %
ROE %
2005
n/a
0.0
n/a
n/a
0.0
2006
n/a
0.0
n/a
n/a
0.0
2007
n/a
0.0
n/a
n/a
0.0
2008
n/a
0.0
n/a
n/a
0.0
2009
n/a
0.0
0.0
0.0
0.0
1NPAT is normalised by removing non-recurring items and goodwill. All the above statistics are derived from normalised earnings.
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