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NWE, NORWEST ENERGY NL
nipper
post Posted: Sep 25 2017, 06:00 PM
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Norwest Energy has made the first offshore oil discovery in the Perth Basin for 15 years at its Xanadu-1 well, where it says it found reservoir quality sand intervals and oil shows over a 330m section and 4.6m of net pay in one of three sand intervals.

But despite the discovery causing internal excitement about what will be revealed in a planned horizontal side well, shares of Norwest and its locally listed partners, Whitebark Energy and Triangle Energy, have slumped.

At 1pm (AEST), Norwest was off 38 per cent, Whitebark was off 6 per cent and Triangle was down 19 per cent.

The fall in shares was variously attributed to short-term punters taking profits, concerns a capital raising was on the way, or a focus on the relatively small net pay rather than other news in the announcement.

Norwest chief executive Shelley Robertson said the well had missed the crest of the discovery, meaning a better-directed sidetrack well was expected to produce strong results.

“The main thing from the announcement is we have these stacked high-quality reservoirs all with oil shows, and it is dipping up to the north, where we want to drill a leg out and where we are sure we will find better quality sands and oils,” Ms Robertson said.

“The oil shows across the three sands means oil has been all the way through there, and we’re expecting to find it in the northern end of the prospect.”



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

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alonso
post Posted: Sep 13 2017, 10:15 AM
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In Reply To: bam_bamm's post @ Sep 12 2017, 10:08 PM

Good heavens! This is still alive?



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"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 
bam_bamm
post Posted: Sep 12 2017, 10:08 PM
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Been highly critical of this in the past, we now have a drill bit spinning. Good luck tired old holders!



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Said 'Thanks' for this post: 0007  daggie  
 
regn
post Posted: Mar 26 2015, 10:29 AM
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Result of SPP announced: $1.0 m plus 80k placement at $.004712. Fortuitously, on the same day, AWE announced the spudding of the Irwin-1 exploration well in nearby EP320 and L1. At current levels, NWE is an attractive play given the prospectivity of the Perth Basin and current and planned activity. (Disclosure: I am a long-term holder and a participant in the latest SPP.)



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[FONT=Courier][SIZE=7][COLOR=blue]zorg
 
bam_bamm
post Posted: Feb 25 2015, 02:42 PM
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Pathetic SPP by NWE. Raising after raising at ever lower prices when there could/should have been other options open to them. Not to get all political, but I now put Tony Abbott ahead of Peter Munachen for decision making and foresight thumbdown.gif



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Seaosh
post Posted: Feb 22 2015, 12:45 PM
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No way I'll be giving any more money to this lot. So guess my holding will be diluted. Worth squat now anyway so who cares. . .

 


sharp737
post Posted: Feb 20 2015, 07:06 PM
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In Reply To: bam_bamm's post @ Feb 20 2015, 12:33 PM

Yes I would tend to agree to even sell down to about 20% interest to minimize dilution for sure. And to give time to get the TP15 farm out under way which I would think would increase the share price. That's when you could theoretically do a capital raise but it's timing too of course

But we will have to see what PM and the team are proposing I suppose. I am hopeful that things will improve this year as long as we don't have a major market crash

The Waitsia prospect and flow testing next to the Erugulla prospect is looking interesting and then with a well to be drilled 3km to the east, closer to our permit.

I still havn't given up on Puffin, who knows what could happen there?



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bam_bamm
post Posted: Feb 20 2015, 12:33 PM
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details of a CR to be announced by Tuesday. Was always on the cards, and the timing was a lot sooner than I had imagined. 3D seismic is still a few months off.

I've handed enough hard earned to PM over the years, I don't think I'll be participating this time around. Am fully expecting my once prized NWE holding to be diluted. Am hoping that we will farm down some of our interest of Arrowsmith to ease the pain to shareholders. PM needs to realise that we are a sub $10m MC company, and that any double digit percentage interest in the permit is extremely valuable.

Thoughts from any other holders?



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bam_bamm
post Posted: Apr 30 2014, 08:08 PM
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In Reply To: anroo's post @ Apr 30 2014, 06:34 PM

nothing to report from puffin unfortunately. No production at all.



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anroo
post Posted: Apr 30 2014, 06:34 PM
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In Reply To: bam_bamm's post @ Apr 30 2014, 04:57 PM

Hi bam bam
Where is the puffin field at?
Where did AEDs 40% end up.
Sorry to be lazy but I know your all over this stock.
Thanks in advance

 
 


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