AWE eyeing Indonesian exploration venture

Australian Worldwide Exploration Ltd. (AWE) is considering exploration in Indonesia, Managing Director Bruce Phillips was quoted by a Media as saying Thursday.

Addressing the press at the Australian Petroleum Production and Exploration Association conference, Phillips said AWE has to go global to further expand from its current base of four assets in Australia and New Zealand.

"We have been looking at Indonesian basins for 1-1/2 years," Phillips said. AWE entry into the Indonesian basins would be through new exploration assets rather than oil and gas producing assets, he said.(*)