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The entry has capped off an already eventful week for the Melbourne-based company, which brought its Puffin oil field in the Timor Sea online at 27,000 barrels per day.
It is also a far cry from when the company first appeared on the Australian Securities Exchange board nearly two-and-a-half years ago with a share price that opened underwater at 64.5c.
Today AED’s stock is worth nearly $10 a share – an increase of almost 1500% – and its market cap stands at more than $A1.172 billion.
On Monday, the company announced production at the Puffin North East development had begun, with Puffin-8 delivering about 12,000 barrels per day and Puffin-7 16,000 bpd.
AED operates Puffin, with a 100% participating interest, and the AC-P22 exploration permit and AC-L6 production licence, all of which are in the Vulcan Sub-Basin of northwestern Australia.
Perth-based junior Norwest Energy holds a 1.25% overriding royalty interest in Puffin production.
