weakness a buying opportunity, page-7

Actually potentially more. From AWE's 9/11/10 announcement:

"AWE now holds a position in approximately 1 million gross acres of prospective Shale Gas acreage in the Perth Basin (620,000 net acres), with high levels of equity in the majority of the permits and licences."

1. Carynginia Shale - "AWE estimates that this this middle interval of the Carynginia Shale may hold Gas in Place of 13-20 Tcf within AWE?s acreage holdings. The US shale industry estimates recoveries of greater than 20% of Gas in Place and therefore in the event of successful flow testing, the recoverable reserve potential of this key area could be higher than 4 Tcf of gas."

2. Kockatea Shale - "subsequent analysis appears to indicate that the high clay content in the cored Kockatea section may be detrimental to effective gas recovery.
However, AWE is currently undertaking geological studies to determine the extent of the oil, wet gas and dry gas windows on the Kockatea Shale for high-grading more prospective areas within AWE?s acerage."

3. Irwin River Coal measures - "In 2009, AWE fracture stimulated the vertically-drilled Corybas-1 well (AWE 50%) to test this formation as an ?unconventional? play. ... The results of this flow test are very encouraging and support the view that an optimally designed fracture stimulation will liberate commercial gas flows. AWE believes that the implementation of best completion practices, drilling horizontal wells which are multi staged fracture stimulated, could achieve significantly higher production rates and recoveries. "

Regards

SP