nwe valuation, page-2

"Norwest is increasingly confident it has a commercial find on its hands."

"Indeed, Norwest claims the results to date are “some of the best in Australia per fracced interval (for a vertical well), and in line with North America’s experience from the early days of shale gas exploration using vertical wells”."

"As far as the company's concerned, it's fair to say this proof of concept well exceeded all expectations. Indeed, Munachen says the “results delivered to date are exceptional”."

I am not an O&G expert but the above all lead to a reasonable conclusion that NWE has a commercial field that WILL be developed. I read that they purchased the permit for $90k- what a bargain and great work by the company. The fact that PM has been buying shares on-market and also will participate in the SPP is just cream on the cake.

This is one of those rare opportunities to buy someting that is probably a 10 bagger in the medium term. The timing is everything and $0.03 is a great entry price. In a couple of years $0.30 is more realistic.