Production, which started in early October, was recorded at 839,698 barrels for the half-year to December. During this period there were two offtakes resulting in sales revenue of $66.7 million at a spot oil price of $104 a barrel.
The Melbourne-based company reported that the quality of crude oil continued to meet or outperform initial expectations, with an API gravity of 43.6.
Also during the period, AED spent $124 million on completion and installation costs at the project, $20.6 million to drill and appraise the Puffin-10 well, and $2 million acquiring the Talbot licence.
On Monday, AED announced it had formed a joint venture with China's largest oil company Sinopec over its Timor Sea assets, including the Puffin and Talbot fields.
AED said it would use the funds from the farm-in to pay off $41.5 million in overdue debt to Norwegian oil services firm AGR Group, settle its creditors and fund its JV interest and development opportunities.
