Front Puffin FPSO Arrives in Australia

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AED Says the FPSO 'Front Puffin' has arrived in Australian waters. Installation works are well advanced at the Puffin Field. Weather conditions have been favorable over the last few weeks, with good conditions also predicted for the forecast period. First oil production is scheduled for late September 2007.

AED has also sold the first cargo (300,000 barrels) of Puffin crude oil. The company's crude oil marketer, TOTAL Trading Asia Pte Ltd, says the shipment has been sold to an east coast Australian refinery, priced at a premium to APPI Tapis. Under the ADE marketing agreement with TOTAL the sale will be on an FOB basis. Offtake is scheduled for the second half of October.

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