AWE

For the second consecutive year, AWE’s annual meeting was marked by penitent management and pensive shareholders. Despite an operating performance that met expectations, the share price remains stubbornly slothful. Two important projects seek to change this; redevelopment at BassGas and testing of shale prospects in Western Australia. The ‘mid life enhancement’ at BassGas will consume $500m and shut down production for five months next year. But the new equipment and wells bolted to the lonely, unmanned production platform will boost subsequent output by 30%. This should arrest the decline in AWE’s output over the past two years. In AWE’s...

For the second consecutive year, AWE’s annual meeting was marked by penitent management and pensive shareholders. Despite an operating performance that met expectations, the share price remains stubbornly slothful. Two important projects seek to change this; redevelopment at BassGas and testing of shale prospects in Western Australia.

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