tight pennant breach, page-26

Just came across this stock last night in my research on the shale gas industry (current BKP holder) and really like what I see.

Key selling points for me were:

Massive upside --

"Norwest’s flagship asset is its shale gas play in the Perth Basin, Western Australia, which the United States’ Energy Information Agency last year estimated could hold 59 trillion cubic feet (TCF) of gas. The report also found the Perth and Canning Basins combined hold the world’s fifth largest reserves (sic) of shale gas."

Look at all the shale! --

"These are potentially conservative numbers, as the Arrowsmith-2 well intersected over 1000m of shale formations during drilling "

We KNOW that these shales are HC generating since Jingemia, Beharra Springs and a host of other fields exist (and are producing) up there.

The existing pipelines running over the tenements and the nearby market make development of the resource very viable.

And all with a market cap of just 80million.. just think of the multiples!

Finally there's a chance that with some good results in the next couple days this could fly, so I bought in asap.

Anyhow I know I'm preaching to the converted here but that was my reasoning, from a brand new investor. Good luck all!