Mineral Resources says bid for AWE takes into account gas reserve upside

Mineral Resources on Thursday said the size of its all-share bid for Australian gas producer AWE, worth A$477-million, took into account that its target may hold bigger gas reserves than currently estimated. AWE said last month that its Waitsia find, which it has called Australia's biggest onshore conventional gas discovery in four decades, held proved and probable reserves of 811 PJ, up 78% from an estimate in June.