ABIX Summary Bermuda-based oil and gas investor, John Deuss, is selling his 11 per cent stake in Australian Worldwide Exploration (AWE). The shares, worth $A155 million, were offered to institutions overnight on 7 and 8 September 2006. The stake is owned by Transworld, which is controlled by Deuss. Transworld initially received the stock at an imputed price of $A2.30 a share. In return AWE gained an additional 22.5 per cent stake in the Tui oil project in New Zealand, taking its holdings to 42.5 per cent. Shares in AWE closed $A0.04 down at $A3.28 on 7 September. Once the placement is complete, Deuss will retire from the AWE board
AWE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
