AWE agrees to sell part interest in Bass basin offshore Australia

AWE Ltd. has agreed to sell interests in the Bass basin offshore Australia to Toyota Tsusho Gas E&P Trefoil Pty. Ltd.

Pennwell web 500 313

Offshore staff

SYDNEY, Australia – AWE Ltd. has agreed to sell interests in the Bass basin offshore Australia to Toyota Tsusho Gas E&P Trefoil Pty. Ltd.

The A$80.125 million ($82.5 million) cash transaction is for 11.25% interest in T/L 1 and 2.75% interest in T/18P. T/L1 includes the Yolla gas and condensate field and its associated production infrastructure. T/18P includes the Trefoil gas and condensate discovery.

At completion, AWE will hold a 46.25% interest in T/L1 and a 44.75% interest in T/18P. 

Pennwell web 500 313

12/08/2011

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