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AED Oil

From Wikipedia - Reading time: 5 min

AED Oil Limited
Company typePublic (ASX: AED)
IndustryMining – oil and gas exploration and development
Founded1 May 2005
HeadquartersMelbourne, Australia
Key people
  • David Dix (executive chairman and CEO)
  • Pedro De Souza (managing director)
  • John Branson (non-executive director)
  • Barry McGuiness (non-executive director)
  • Richard Price (non executive director)
  • John Imle (non-executive director)
  • Tim Baldwin (non-executive director)
  • Richard Little (chief financial officer)
  • Trevor Slater (company secretary)
Number of employees
approx. 30
Websitehttp://www.aedoil.com

AED Oil Limited is an oil and gas exploration and development company based in Australia with international assets. The company entered voluntary administration in August 2011.[1]

It is listed on the Australian Securities Exchange with the code AED, and is a component of the S&P/ASX 200 index until it shares were suspended as a result of entering voluntary administration.[1] AED Oil floated on the Australian Securities Exchange (ASX) in May 2005.[2] The Company was established for the purpose of acquiring, developing and commercialising specified fields and undertaking oil and gas exploration.

Based in Melbourne, the company has assets in Australia and South East Asian territories with offices in Brunei Darussalam and Jakarta. Since being listed, the company has produced over two million barrels of premium oil from its Puffin field, an oil field off the coast of Australia, in the Timor Sea.[2] In addition, it has acquired contract areas Block-L in Brunei, Rombebai in Papua and South Madura in Indonesia.[3][4] AED has entered into several partnerships with companies in the oil and gas sector, including Sinopec, Petroleum Brunei, Kulczyk Oil Ventures, QAF Brunei, and Cooper Energy.[5]

AED entered administration as a result of an international arbitration panel that went against AED over Puffin oilfield. The court awarded Sea Production a settlement of $US72.39 million.[1][6]

References

[edit]
  1. ^ a b c Frith, Bryan (16 August 2011). "China's Aussie oil venture springs a leak". The Australian. Retrieved 3 September 2012.
  2. ^ a b Wilson, Nigel (4 September 2007). "AED ship comes in off WA coast". The Australian. Retrieved 3 September 2012.
  3. ^ Brown, Kevin (21 April 2010). "Hunt begins for onshore oil in Brunei – FT.com". Financial Times. Retrieved 3 September 2012.
  4. ^ Lau, Justine; Robin Kwong (8 March 2008). "Sinopec buys into Timor Sea oil assets – FT.com". Financial Times. Hong Kong. Retrieved 3 September 2012.
  5. ^ Nigel Wilson (5 July 2007). "BHP shores up dwindling oil". The Australian. News.com.au. Archived from the original on 17 March 2008. Retrieved 15 December 2007.
  6. ^ Tasker, Sarah-Jane. "Huffin and Puffin: costs blow AED's house down". The Australian. News.com.au. Retrieved 3 September 2012.
[edit]
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/AED_Oil
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