"AWE holds an extensive acreage position in the onshore perth Basin. Following the initial success from the recent testing program, particularly the flow rates achieved from the High Cliff and Dongara / Wagina tight sands, the Company is taking a fresh look at data accumulated over the last 20-30 years in the basin, as past drilling programs have included wells that intersected many tight oil and gas reservoirs. Evaluation of this data may identify new appraisal opportunities in the basin.
AWE is also continuing to pursue new oil and gas exploration opportunities in the north perth Basin, with processing and initial interpretation of the Redback-Irwin 3D seismic survey being undertaken. "
NWE Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held