O AWE
w
0:::
I-
:::>
LL
w
I
I-
A N N U A L R E P O R T
-
{!)
z
a..
I
Vl
w
0:::
AWE Limited is an independent Australian energy company focused on upstream oil and gas opportunities.
Established in 1997 and listed on the Australian Securities Exchange (ASX: AWE), the company is based in Sydney with project offices in Perth and New Zealand. AWE
has a substantial portfolio of production, development and exploration assets
in Australia, New Zealand, and Indonesia.
ABOUT THIS REPORT
The AWE Limited 2015-16 Annual Report includes the Directors' Report, Remuneration Report and Financial Report and provides
a summary of the company's operating and financial performance for the financial year ended 30 June 2016.
When we refer to AWE in this report, we are referring to:
+ AWE Limited (ABN 70 077 897 440) which is the parent public company of the AWE Group and is listed on the Australian Securities Exchange (ASX) under the ticker code AWE; and
+ Our major operating subsidiaries and controlled entities.
Shareholders can request a printed copy of this report by writing to the Company Secretary, AWE Limited, Level 16, 40 Mount Street, North Sydney, NSW 2060, Australia. This report is also available online at www.awexplore.com
02 FY16 Highlights
04 From the Chairman
06 Performance Summary
08 Operational Overview
10 Managing Director's Review
16 Board and Management
CONTENTS
The project photography featured in this annual report reflects various stages of the Waitsia gas project, a key element of AWE's growth strategy.
17
18
29
46
52
92
93
96
98
99
100
101
Financial Report Directors' Report Remuneration Report Financial Statements
Notes to the Consolidated Financial Statements
Additional Information
Reserves and Contingent Resources Production and Exploration Permits Shareholder Information
Glossary
Five Year Financial Summary Corporate Directory
A WE LIMITED ANNUAL REPORT 2016 1
FY16 HIGHLIGHTS
FY16 HIGHLIGHTS
5 MMBOE
Total production
$202M
Sales revenue
$92M
Field EBITDAX
93%
Increase in Waitsia 2P Reserves*
71 MMBOE
2P Reserves^
102 MMBOE
2C Contingent Resources^
55%
Reduction in total investment expenditure†
41%
Reduction in corporate overheads
0
Lost Time Injuries and Reportable Environmental Incidents
* Announced 3 June 2016, Waitsia gross 2P Reserves increased by 93% to 344 Bcf of gas (AWE share 172 Bcf of gas or 30.4 mmboe)
^ At 30 June 2016
† Capital expenditure plus exploration expenditure
