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AWE - AWE Limited

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Yeah they had a good right up in the West Australian saturday paper

Credit Suisse gave them an "outperform" rating after AWE's decision to pay a special fully franked dividend of 10 cents a share...and value AWE at $4.17

might be worth a look:2twocents
 
Yes, AWE have a very strong balance sheet with $339m cash at 30 June 2008. Total liabilities of only $178m. The 10c dividend recently announced will absorb $52m but there's a good chance that cash has increased since 30 June.

Four major oil and gas producing assets of which Tui is the biggest cash generator. While Tui production is estimated to decline fairly rapidly from next year, oil will continue to flow for several years and further exploration and development drilling scheduled for 2009 could well increase reserves yet again.
PoO is of course the big unknown factor but AWE looks to be one of the better value Aust O&G companies IMO.

Disc: Holding AWE.

;)
 
Apparently Morgan Stanley put out a report a few days ago in which they picked their six best stocks from the Asia/Pacific region.
AWE was one of the six and the only Aust stock.

Has anyone seen this?
 
Agree...POO IMO will not hold these depressed barrel prices for long. At 2003 levels now and we have adderd several million oil consumers since then. AWE has plenty of exploration upside as well with 15 drills planned for the next 18 months. SP has alot of upside :2twocents

Disc: Holding
 
With oil prices starting to rebound strongly was wondering where ppl see this at?

I got back in about 1 week ago.

Will the oil price hold up?
 
AWE --Possible Takeover Target ??

Australia Worldwide Exploration (AWE), will have approx $1.13 billion in cash by Dec this year, if oil holds around the $70 p/b mark. With 470 million shares on issue and no debt, this equates to approx $2.40 per share in cash alone ! Add in $1.60 in NTA, (excluding the cash), then how can this stock keep trading around the $2.40 / $2.50 mark ??
I think some of the big oil players may be circling shortly.

Is my view of this company's balance sheet to simplistic folks ???

Any thoughts ??

I do have a holding interest in AWE
 
Re: AWE --Possible Takeover Target ??

captain91 said:
Australia Worldwide Exploration (AWE), will have approx $1.13 billion in cash by Dec this year, if oil holds around the $70 p/b mark. With 470 million shares on issue and no debt, this equates to approx $2.40 per share in cash alone ! Add in $1.60 in NTA, (excluding the cash), then how can this stock keep trading around the $2.40 / $2.50 mark ??
I think some of the big oil players may be circling shortly.

Is my view of this company's balance sheet to simplistic folks ???

Any thoughts ??

I do have a holding interest in AWE
Click to expand...
Can you expand on the $1.13billion in cash by end of year calculation?

They had $340m left according to their June Qtly.

Last Qtly revenue was about $90m and it's been falling.

They have 770m shares issued @ $2.60 for a MC of about $2b, from what I can find.

Nice cah position, maybe they'll take another junior out?
 
Re: AWE --Possible Takeover Target ??

captain91 said:
Australia Worldwide Exploration (AWE), will have approx $1.13 billion in cash by Dec this year, if oil holds around the $70 p/b mark. With 470 million shares on issue and no debt, this equates to approx $2.40 per share in cash alone ! Add in $1.60 in NTA, (excluding the cash), then how can this stock keep trading around the $2.40 / $2.50 mark ??
I think some of the big oil players may be circling shortly.

Is my view of this company's balance sheet to simplistic folks ???

Any thoughts ??

I do have a holding interest in AWE
Click to expand...

Can you show where the numbers from? They feel way off. e.g. Their June quarterly report said its cash reserve was only $340m. So where did you get $1.13b?

Edit: Kennas beat me to it. He was indeed "On the prowl"
 
Today's profit report shows $356m cash.

Adding to that balance will be a slow job now, given expected field decline from Tui and planned exploration expense.
 
Nice triangle forming though...

Also, does anyone know why some threads have a minimum of 100 characters and other threads do not ????
 

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That is a nice triangle indeed!

Drilling program set to commence shortly.

Fat Prophets put a buy on it today and said it should have a run towards $4 as speculators pile in.
 
Finally - a bit of movement on AWE! That triangle seemed to just go on forever, but the stock has finally jumped out of the trading range and up above $3, on the Rockhopper 1 drilling news and stronger oil price. Keep it coming!
 
The market really seems to have it in for AWE at the moment.

With the rig on its way to NZ for the very exciting Hoki prospect drilling, it's hard to understand why the sellers currently have the upper hand.

Very tempted to pick some up around $2.50, but the current trend is so clearly down....
 
Well, we are close to our 3 month low of $2.50. I'm not very good at charts, but can't read a lot into the technicals other than a slow and steady fall. If we fall below $2.50 we may go south for a little further unless the POO of picks up.

I notice that Morningstar have AWE as a good buy at this level.
 
Perhaps the market also liked the news of strong gas flows from the well in Yemen.

Anyway, couldn't help myself getting caught up in the excitement of the drilling start at Hoki and bought today. Really just a punt on how the Hoki well goes, but the upside could be very good.
 
Took quite a hit today:

Australian Worldwide Exploration(AWE) down 6% first thing after providing an update of their Hoki-1 drilling results. AWE down 6% to 262c.
 
AWE has been struggling for a while. The lower oil price and a bad drilling report triggered some pretty heavy selling.

There are some expectations of weakness to continue, with a target of $2.30 or even as low as $2.20

I hold but won't be adding unless we reach these support levels.
 

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