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    1. Business Briefs

    AWE sells BassGas interest to HPCL subsidiary

    Jan. 30, 2014
    AWE Ltd. has agreed to sell an 11.25% interest in T/L1 (BassGas infrastructure and Yolla field) and a 9.75% interest in T/18P (Trefoil field) to Prize Petroleum Co. Ltd.

    Offshore staff

    SYDNEY, Australia – AWE Ltd. (ASX: AWE) has agreed to sell an 11.25% interest in T/L1 (BassGas infrastructure and Yolla field) and a 9.75% interest in T/18P (Trefoil field) to Prize Petroleum Co. Ltd., a wholly owned subsidiary of Hindustan Petroleum Corp. Ltd. (HPCL), for AUD$85 million ($74.5 million).

    At the sale’s completion,AWE will hold 35% in T/L1 (BassGas/Yolla) and 35% in T/18P (Trefoil).

    01/30/2014