us investor presn 17/3/10

I still remember their last big drilling campaign in NZ and Perth basin !

Slide 17 seems to reflect that -- titled "Exploration" I had to look twice at the photo - a Clergyman seems to be saying a prayer on the helideck

why not CSG for AWE -- very low exploration risk ?

I guess that idea underpins their woodada shale gas hole

Wouldn't we like to see another dividend - give the cash to us the shareholders rather than throw it down the hole

Exploration A$175M spend in FY2010 - and they have US$266M cash - and Dec 2009 HY NPAT of only A$17.3M - so spending ~10x the HY NPAT !

I have AWE on the watchlist for becoming a bit like TAP -- huge exploration spend but unfortunate results

I sure hope that Hoki has something in it - now delayed