REFILE-Australia's Arrow says plans overseas listing

(Refiles to additional subscribers, inserts dropped words in paragraph 9)

PERTH Feb 17 (Reuters) - Australia's Arrow Energy Ltd AOE.AX on Wednesday revived plans to float part of its overseas assets as part of its plans to develop significant operations in China, Indonesia and India.

Analysts said the IPO, expected later this year, would allow Arrow's international arm to fund itself separately and free up its cash to focus on delivering its flagship A$2.2 billion ($1.98 billion) liquefied natural gas (LNG) project in Australia, which will use coal seam gas as a feedstock.

Brisbane-based Arrow said in a statement it may float 20 percent of its overseas assets in the first half of the 2010/11 financial year, and plans to list either on the Hong Kong or Singapore stock exchanges.

Royal Dutch Shell (RDSa.L) already owns 10 percent of Arrow's international unit.

"Considering the quality of the overseas partnerships Arrow has and the fact that it already has support from Shell, I think the IPO will get a very positive response," said an energy analyst who declined to be identified.

"It's hard to put a value on those assets now as most of them aren't producing yet, but given the acreages and quality of the joint ventures, the IPO could be in the range of $500 million or so."

Arrow in 2008 scrapped plans to list its international unit after its deal with Shell helped to generate funds needed for overseas work.

Shares in Arrow, which has a market value of A$2.66 billion, rose 2.8 percent to A$3.64 by 0412 GMT.

Arrow's overseas operations include seven projects in China, India, Indonesia and Vietnam, and it has nine more in the pipeline later this year. Its partners overseas include PetroChina (0857.HK), Fortune Oil (FOOI.L) and India's ONGC.

"Recent drilling results from Indonesia are very promising with good coal thickness and high gas content so we are hopeful that this may lead to early production," Arrow's Managing Director Nick Davies said in a statement.

"Most of these countries have the potential to be at least as large as our Australian operations in terms of size and profitability within the next six years."

Arrow, which plans to increase its Australia production by ten-fold by 2015, last week said it would acquire the full ownership of the 1.5 million tonnes per year Fisherman's Landing LNG plant in the Queensland port city of Gladstone.

Arrow hit the headlines in 2008 when it sold a 10 percent stake in its international unit to Shell as part of a deal that also gave the Anglo-Dutch major a 30 percent interest in Arrow's upstream coal seam gas reserves in Australia. (Reporting by Fayen Wong; Editing by Jeremy Laurence)