SYDNEY (Yosefardi) – ASX-listed AWE Limited has considered and rejected a non-binding and conditional scrip based takeover from Senex Energy Limited.
AWE said Senex’s proposal was not in its shareholders best interets and accordingly was not appropriate to purse.
AWE will continue to assess potential value accretive assets opportunities such as the purhase and recent farm-down of equility in the Ande Ande Lumut project, located in Northwest Natuna Sea, Indonesia.
AWE plans to sell 50% interest in the Ande Ande Lumut oil project.