Morningstar - AWE Ltd. Waitsia Drilling a Highlight in No-Moat AWEâ€™s 4Q. FVE Unchanged.

Report

Morningstar

Mark Taylor

EUR 101.80 For Business Accounts Only

Waitsia Drilling a Highlight in No-Moat AWEâ€™s 4Q. FVE Unchanged.

We make no change to our AUD 0.85 per share fair value estimate for no-moat AWE, or to our fiscal 2017 and fiscal 2018 EPS loss forecasts of AUD 0.07 and AUD 0.01, respectively. AWE reported slightly lower-than-expected fourth-quarter production of 0.55 million barrels of oil equivalent, or mmboe, down 18% on the March quarter due to the prior sale of Tui oil in New Zealand, scheduled maintenance at Casino, and commissioning of compression at BassGas. Despite this, fiscal 2017 production of 2.8 ...

31/07/2017 13 EN

Underlying

AWE Ltd.

AWE is an independent energy company focused on upstream oil and gas opportunities. Co. has a portfolio of production, development and exploration assets in Australia, New Zealand, and Indonesia. As of June 30 2016, Co. had total proved developed and undeveloped reserves of 44.4 million barrels of oil equivalents, which consisted of 151.9 petajoules of sales gas, 73.4 kilotons of liquefied petroleum gas, 0.9 million barrels of condensate, and 17.4 million barrels of oil.

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AU000000AWE9 Australia

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Mark Taylor

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Waitsia Drilling a Highlight in No-Moat AWEâ€™s 4Q. FVE Unchanged.

Monthly LMI Update Independent Investment Research

Feasibility Study Results in December to be a Catalyst for this Junior

Mitsui Trumps Mineral Resourcesâ€™ AUD 0.83 Bid for No-Moat AWE With an AUD 0.95 All-Cash Offer

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Sasol Provides Full-Year Production Update

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