yolla gas project mid life enhancement (mle)

On the 18/12/09, AWE announced its investment in this project. AWE has 57.5% of this project. Consequently, it share of the projected A$345M expenditure now amounts to A$198M. From the announcement the project entails the following:

"The MLE project will entail the drilling of a further 2 development wells, Yolla-5 and Yolla-6, which will be undertaken by a semi-submersible, Tender Assisted drilling rig.

The installation of on-platform accommodation, additional compression and the safety related facilities is designed to improve the operating efficiency of the facility and extend the life of the project, while maintaining safe and reliable gas production from the platform.

The additional wells and accommodation facilities are expected to be operational by the June quarter of 2011, while the compression upgrades are anticipated to be available by mid 2012. The installation of the accommodation modules will minimise the costlier use of regular helicopters and increase flexibility for routine work on the facility."

http://www.awexplore.com/IRM/Company/ShowPage.aspx?CPID=1558&EID=31454515&PageName=AWE commits to BassGas enhancement

Does anyone have an understanding of what return AWE will get on this A$198M investment? No additional production, additional revenue and/or cost savings were specified in the announcement. Consequently, it is hard to judge what the return will be on what is quite a substantial investment for AWE.


Thanks in advance for any info.

Regards

SP