My ferrets tell me that bpt have been a little "loose with the truth" in their announcement. I believe that bpt didn't want to pay standby rates while they cleaned up the well so they released it with the understanding that it will return to a final fracc later in may before it is actually released to NWE, AWE.
Haliburton have therefore sent it to SXY to fracc a well for them. Haliburton don't want the rig sitting idle for two weeks not earning $$$.
From my understanding there is only the one rig available to do this work so it is a case of wait your turn. We are still on for June though and as has been stated ... it is very close ... and only 21 trading days till june one.
If you miss out on the opportunity to add heaps of these to your portfolio at these cheap prices then you have only yourself to blame. Don't come back to this thread complaining that you missed out. Nwe will rocket with positive news from the fraccing. Big boys are watching and will take it on. It is grossly undervalued in my opinion.
Do your own research ..... read the ASX announcements and work it out ..... it is not rocket science ..... the technology is already proven in the USA big time. Our regulations and the structure of our market and infrastructure are significantly different to the USA, so we are not going to see the glut of gas happening hear like it did in USA, therefore we will not see the collapse of prices as did there. NWE is close to major arterial pipelines, which supply Perth, the major market. Perth is growing fast, more people will move there from the eastern states to find work as the eastern economies downturn. This will drive increased demand.
Which everway you look at NWE, the ducks are lining up. It is your choice to be on board or not, small fluctuations in the price donot change to underlying, basic structure that has been acheived by this management.
Go you good thing.
Potter
NWE Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
