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GAS

AWE makes strategic sale

AWE has agreed to sell 11.25% of its interest in T/L1 in Yolla field and 9.75% of T/18P in Trefoil field, both in the Bass Strait, for $85 million.

Andrew Snelling

The sale will generate an estimated unaudited after-tax loss of about $10 million for the company, but is seen as a positive move for future growth. "While recording a non-cash loss on the sale, the...

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