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NWE, NORWEST ENERGY NL
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?



Said 'Thanks' for this post: wasabibarako  
 
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

 
bam_bamm
post Posted: Apr 30 2014, 04:57 PM
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In Reply To: bam_bamm's post @ Apr 30 2014, 01:58 PM

Cash held @ 31 March 2014 was $3.3m
Estimated outflows for this quarter is $1.15m.
We should be left with approx $2.1m by the end of the current quarter.

TP15 - "A detailed farm-in package has now been presented to a number of interested parties...", "...and Norwest is confident a deal will be made in the near future for this block due to its conventional oil play potential."

I guess we can only hope that we can attract a large farminee to come on board for TP15, so that real progress can start to be made, on favourable terms for Norwest. It's pleasing to read that NWE are also in talks with other companies in the area on co-sharing costs for 2D surveys.

The oil in the Kockatea has gone all quiet. "...highlighting that this interval still warrants further investigation to better understand the oil potential, however the current focus of the EP413 JV is the gas production of the IRCM and Carynginia." Seems it will be shelved for some time.

All in all, you cant really expect much more from NWE at this time. If we can avoid a CR for the next 6 months, we'll be doing ok.



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bam_bamm
post Posted: Apr 30 2014, 01:58 PM
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Quarterly due today. I wonder if we'll get any reported flow rates from A2. It's been monitored for a few weeks now...



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diana
post Posted: Apr 11 2014, 12:28 PM
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I think the following sentence may have a bearing on Mr Markets sullen mood today ...




"Stock markets fell heavily across the board overnight with the DOW falling 266 points and a 2 percent decline in the S&P500."




R/Di






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"Adversity does not build character; adversity reveals character."
Sandy Dahl
 
 


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