future prospects

Well fellow investors.

I have a substantial holding in AWE, been with them for 6 years now, have rode the up and down since.

Seems like AWE has got an exciting 6 months ahead.

With the Atlas to spud this month, plus Shale drilling in Perth soon and lastly, with their major purchase of the Indonesian field, seems they are being pretty much being ignored. I admit AWE has held up fairly well in the current market (of course - thats partly due to their terrible fall to under $1).

Anyway, recently, AUT has proposed a T/O of EKA for their %6.25... worth about $107. Now AWE has a flat %10, so... its now worth at least %50 more.. so around $160 Million. With all the upcoming drilling planned by AWE, and only $43 Million in cash, it would seem to me that it could be sold (at a profit to AUT). This would give AWE around $200 million to continue with their plans..?

AWE has good margins on its production, lots of resources... but needs to prove and then produce more to get the company moving again.

The Perth Basin exploration is as far as I can tell, the reason for the companies steadyish share price. With only weeks until spudding (going by the presentations).

AWE has a good pipeline of projects ahead, and if they do indeed find shale. I think there is plenty of movement to be had in the SP. I am very much looking forward to the drilling of Woodada Deep well - hopefully lots of Gas.

Anyway, just hoping to fire up the discussion. AWE is not a small oil&gas stock. Solid management, able to make deals and hit dates mainly.

Good luck to all holders.