From AWE this morning " “The major highlight for AWE during the...

From AWE this morning
"
“The major highlight for AWE during the year was the very successful Perth Basin exploration and appraisal program, where the Company has booked over 700 BCF gross of 2P Reserves and 2C Contingent Resources. The program resulted in the discovery of the Waitsia gas field, which was upsized following evaluation of Waitsia-2 well results to reflect combined gross 2P Reserves and 2C Resources of 484 Bcf (net 43 mmboe to AWE).

“The Waitsia field is the biggest onshore conventional gas discovery in Australia in the last 30 years and potentially Australia’s fourth largest onshore gas field, based on remaining conventional 2P Reserves. Waitsia has been prioritised for commercial development and we are moving quickly to implement low cost, early-stage production, using existing wells and facilities, with the aim of selling gas into the domestic Western Australia market by mid-2016. Our success in the Perth Basin has established a substantial new domestic gas business in Western Australia of significant value for AWE,” Clement said.