Haha, quite mad I suppose, but it's been beautiful down that way the past week or so; water as clear as crystal!:D
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Haha, quite mad I suppose, but it's been beautiful down that way the past week or so; water as clear as crystal!:D
After the DOW sprouted overnight and time is getting closer to the big drill why has NWE dropped?
Methinks the Warro-4 well must be a duster the way sp dropped. No comments forthcoming as yet?
Hi JackSprrat
Unless I missed something (which is possible =)=)), -Warro 4 is not NWE it is Alcoa and TSV (operator). NWE's SP drop is just a natural fluctuation as it bounced the day before. It will have nothign to do with Warro-4. I see TSV's SP dropped a little though.
Gazprom
No you haven't missed anything gazza - Warro has nothing to do with NWE, other than it gets the drilling rig being used at Warro4 next
Arrr, *looks at sky* that's enough. When you hear that drill rumbling toward NWE peeps will be thinking, what's that coming. That was my point.
I copied this from HC site because I think it's a great little summary and there's so little commentary here - hope that's allowable. Written by someone called Wasa.........
Quote "It is quite a long story as you know. Here we have a very small Western Australian company that once had a following when AED was ramping up the Puffin fields to give NWE secure longterm royalty income. The share price rose to 34 cents before the bad news came. i.e. Puffin didn't produce.
And so the company had to sell off some UK assets they were hoping to exploit ( some with Bharat ). Times were tough. But they scraped through with prudent management and now are poised to climb again having attracted a Fortune 500 company in Bharat petroleum to explore for shale gas in EP413 along with AWE. The gas is there. Whether it will flow at sustainable rates is another question. NWE and Bharat are very confident that they will acheive sustainable results.
In the meantime we have a market that would hardly know who NWE are and those that do only remember the losses they suffered during the decline from 34 cents down to almost 1 cent. Little wonder that NWE is sitting at 5 cents.
IMHO this will change markedly once Arrowsmith*2 hits the pay dirt.And hit it it will. Gas will flow and with fraccing it will be significant. And the reserves they have are huge. Plus we are in a market where gas prices are double that on the East Coast.
We are in for a fantastic time. Bharat know what is going on. And others are now looking with increasing interest."
Hi JackSprat,
Thanks for the post from HC. Wasa has his rose tinted glasses on re NWE but IMHO I am happy to be holding at 5 cents with Arrowsmith 2 now only a matter of a couple of weeks away from spudding. There will be holders sitting at 5 cents that were probably buyers at 2.7-3 cents where NWE sat for ages so they may look at to exit at the next spike if they didn't get out at the last 7 cent spike a few weeks back.
ADE's SP was very positive during their shale drill and have done a cap raising. Wonder whether or not NWE will do a cap raising IF Arrowsmith is promising and the SP moves higher. Bermuda - do you have any thoughts on a possible cap raising if Arrowsmith 2 had the goods??
Gazprom