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DJ AWE Shares Jump After Strong Flow Test at Gas Well -- Market Talk
07/10/2015 10:30AM AEST

2330 GMT [Dow Jones] AWE's (AWE.AU) shares are rallying after it reports strong natural gas flows from the first of two zones to be tested in the Waitsia gas discovery in Western Australia's Perth Basin. It comes as the wider energy sector on the ASX is benefiting from jump in crude-oil prices in U.S. trade Tuesday. AWE Managing Director Bruce Clement says the result from Waitsia-1 confirm the production potential of the field, and is the second successful test result following work at Senecio-3. "We are moving forward confidently with our plans for the first stage of development," he says. Waitsia is equally owned by AWE and Origin Energy (ORG.AU). AWE's shares are now up 12% at A$0.815. ([email protected]; Twitter: @RobbMStewart)