AWE to raise $48m for Wait­sia

The Australian Energy Review - - NEWS -

AWE Lim­ited has tapped in­vestors for $48 mil­lion to help fund Stage 2 of its Wait­sia nat­u­ral gas project in WA and strengthen its bal­ance sheet.

“This eq­uity rais­ing will pro­vide par­tial fund­ing for Stage 2 of the Wait­sia Gas Project while pro­vid­ing AWE with the flex­i­bil­ity to achieve the best pos­si­ble out­comes in terms of east and west coast gas sales and the con­struc­tion op­tions for the Wait­sia Stage 2 fa­cil­i­ties,” AWE chief ex­ec­u­tive and man­ag­ing di­rec­tor David Biggs said.

“The suc­cess­ful Wait­sia ap­praisal pro­gram has sub­stan­tially de-risked the field’s sub-sur­face mod­el­ling and proved up sub­stan­tial ad­di­tional re­serves.”

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