AED Oil

Shares / Stock Code

AED

Stock Exchange / Sharemarket

ax

AED Oil (AED) is an oil exploration and development company engaged in the planning and development of the Puffin Field. AED Oil operates only in oil production, and oil and gas exploration industry in Australia. AED was listed on the Australian Stock Exchange on May 3, 2005. AED Oil obtained its retention license AC/RL1 on 2nd July 2007, including the Talbot Oil Field. It acquired 100% of the license from Apache Northwest Pty Ltd. AC/RL1 consists of one graticular block having an area of 83 square kilometers and it is situated in the Ashmore and Cartier Islands region in the Timor Sea, north-western Australia. AED Oil entered into an incorporated joint venture with Puffin FPSO Limited during the fiscal year ended June 30, 2007. The Company holds a 50% participating interest in Puffi.

AED was founded with an aim of acquiring, developing and commercializing specified oil fields and undertaking oil exploration, mainly with a focus on prospects located either in Australia or within Australian territorial waters. AED Oil's current focus is on the development of the Reserves in the Puffin Field and on the exploration of the Fairfield Prospect. Further the Company has plans to utilize the skills of its management to identify, evaluate and assess opportunities with short term development potential in the Timor Sea region. The Company has long term goals about the development of proved oil fields beyond the Timor Sea region and to identify the assets where its expertise gives it a competitive advantage.