Content 1 Executive Summary 2 Transaction Details & Use of Proceeds 3 Key Asset Summary 4 Conclusion 5 Key Risks 6 International Offer Restrictions 33 Photo: Waitsia Gas project
Executive Summary AWE IS SEEKING TO RAISE APPROXIMATELY 38M VIA AN INSTITUTIONAL PLACEMENT AWE has made significant progress on Waitsia AWE continues to move the project towards FID Excellent data from flow tests and the upgraded…
Transaction Details UNDERWRITTEN PLACEMENT TO RAISE APPROXIMATELY A38M WITH ACCOMPANYING SHARE PURCHASE PLAN Fully underwritten Institutional Placement to raise approximately A38 million via the issue of 76.9 million new shares…
Use of Proceeds Strengthen AWEs balance sheet Provide greater financial strength in negotiating commercial arrangements for Waitsia Stage 2 project construction, gas term sheets and gas sales agreements Strengthens AWEs financial…
Key Asset Summary AWE IS FOCUSED ON THREE KEY BUSINESS UNITS Independent review by RISC increases Waitsia 2P Reserves to 811PJ (gross); 78% higher than AWEs 2P Waitsia Reserves as at 30 June 2017 West Coast Project life substantially…
1 Onshore Perth Basin Waitsia Gas Project Waitsia-4 8
Waitsia: Update RISC independent review increases 2P Reserves to 811 PJ (gross) Represents 78% increase on AWEs current booked Waitsia 2P Reserves AWE expects to formally update its 2P Reserves post results of the current flow test…
Independent Reserves Review at Waitsia RISC HAS ESTIMATED GROSS WAITSIA 2P RESERVES AT 811 PJ; A 78% INCREASE RISC estimated Reserves and Contingent Resources for the Waitsia gas field Sales Product Unit 1P 2P 3P 2C Gross sales gas…
Waitsia Stage 2 Scorecard MATERIAL PROGRESS ON KEY DEVELOPMENT WORK STREAMS 2017 2018 1 RISC certify 2P Waitsia-3 & -4 Latest RISC review considerably Subsurface Reserves to underpin drilling results increased 2P 10yr project…
Waitsia Stage 2: Commercialisation PATH TO FINAL INVESTMENT DECISION Gas Marketing Plant & Subsurface Finance Facilities Independent Additional gas Optimising and review1 of sales FEED Design securing the Reserves (+50TJ/day…
2 East Coast Gas Casino and BassGas Lang Lang gas plant 13
Casino: Update CASINO WELL PLACED TO LEVERAGE UPSIDE IN EAST COAST GAS PRICES Casino gas marketing progress has been positive with the JV looking to recontract gas in Q1 2018 Revenue step up from new gas contract pricing expected…
BassGass: Update 23% IMPROVEMENT IN PRODUCTION IN LAST QUARTER FOLLOWING SUCCESSFUL MLE START UP Final stage of Mid Life Enhancement (MLE) project (compression hook-up) completed in June 2017 Following a brief period of commissioning,…
3 Indonesia Ande Ande Lumut (AAL) Drilling AAL-4XST1 Appraisal Well 16
AAL: Update STRENGTHENING OIL PRICE IS POSITIVE FOR A FUTURE AAL DEVELOPMENT Combined K and G sand creates additional value for development Improved oil quality in K and G sands increases forecast revenues from the project and reduces…
4 Other Corporate 18
Other Corporate: Update Completion of Bulu PSC sale delayed Completion of the sale of AWEs 42.5% interest in the Bulu PSC has been delayed. The purchaser, a subsidiary of HyOil Pte Ltd, has continued to make progress payments and is…
Conclusion Balanced portfolio of quality production, development and exploration in established basins Transformational development opportunity at Waitsia plus significant potential beyond Stage 2 Stable base production in east…
Key Risks This section discusses some of the key risks associated with an investment in AWE's Shares. The risks may affect the future operating and financial performance of AWE and/or the value at which the Shares may trade in the…
Key Risks AWE has undertaken technical assurance for the Waitsia gas project. It is considered that the project is technically mature and has robust estimates of cost and schedule and that there is sufficient definition for the Project…
Key Risks Industry operating risks include fire, explosions, blow outs, pipe failures, abnormally pressured formations and environmental hazards such as accidental spills or leakage of petroleum liquids, gas leaks, ruptures, or…
Key Risks AWEs exploration, development and production activities may be delayed or may be unsuccessful owing to state, national and international environmental laws and regulations. Failure to develop existing reserves and a failure to…
Key Risks As is common in the oil and gas sector industry, AWE relies on access to properly maintained operating infrastructure and shared facilities that, in some Reliance on third circumstances, may not be directly controlled by AWE…
Key Risks AWE from time to time evaluates acquisition and divestment opportunities across its range of assets and businesses, and engages in confidential negotiations with third parties with respect to these opportunities. However,…
Key Risks Litigation and The nature of AWE's business means that it may, from time to time, be involved in litigation, regulatory actions or similar disputes arising from a range of matters. AWE may also be involved in investigations,…
International Offer Restrictions This document does not constitute an offer of new ordinary shares (New Shares) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any…
International Offer Restrictions Norway This document has not been approved by, or registered with, any Norwegian securities regulator under the Norwegian Securities Trading Act of 29 June 2007. Accordingly, this document shall not be…
International Offer Restrictions Switzerland The New Shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange or on any other stock exchange or regulated trading facility in Switzerland. This…
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