I think NWE is a very reasonable buy at 3c, hung on till the end to see if we would get any dips below SPP price... there were none. Happy in be in the buying group, transfer done. Cash in reserve.
I think any movement on farmouts, in the local neighbourhood should create interest in NWE, especially if US company with expertise in unconventional. I would hope there would be few mid-tier companies fitting this ilk, looking for these opportunities that are close to infrastructure/stable country/good international ties, $A down. Really BHP should be in this space... why isn't it?
There is always lots of talk of the some of the Eastern States being taken out or partnered. BPT, SXY etc..
Opportunity won't last long.
Remember from Bloomberg, AWE CEO... "The company expects to consider a shale partnership in Western Australia in mid-2013 after completing some tests and may bring in a partner this year, Managing Director Bruce Clement said in a phone interview."
NWE SPP under-subscribed probably likely, I think the company will be able to place the residual quickly or over the mid-term for required funding. This will lift some of the drag. we just need a bit of excitment.
Want to see 3D on Kockatea, and HCSS (harder to see, deeper and thinner, aligned with A-1 and A-2 solid measurements). Brilliant.
NWE Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
