corporate vision?, page-34

Smartdude,
Perhaps it has slipped past your notice but the flow rates for the well sections have all increased as the fraccing fluid has been ejected from the well.
The current flow rates which you quote are reflective of the difficulty of getting the well to eject the fluid and you are now under this flowback system dealing with the residual fluid from the HCSS, all the fracc fluid from the IRCM and approx 50% of the remaining fracc fluid from the Caryinginnia.
We are attempting to push this fluid vertically up 2 3/8 tubing some 2500 metres. It is not just water either it has sand and goodness know what else included in the mix. This adds to the frictional losses and increases the difficulty of pushing it out at any speed.
It was clear from the announcements to the ASX that the vertical height and the diametre of the bore hole were impeding the cleanup.
The company, correctly in my view, decided to attempt to put production tubing with the use of a packer at the top of the HCSS and to therefore flow back the HCSS as a separate entity and to flow back the Caryinginia and the IRCM together in the pathway between the production tubing and the well bore tubing. So we would have been flowing back the same three sections that we are now but in two separate conduits.
The advantages of this process was to enable the HCSS to clean up quickly and to prove it's commercial production and allow forward planning to occur rapidly and secondly to allow the IRCM and the Caryinginnia (2 sections) to clean up together and facilitate the ejection of the fraccing fluid much more efficiently.
The packer sticking at the current level has in my opinion put all those plans and options on hold, as we now are going to take longer to clean up the well to be able to make the commercial call.

I also disagree with you in relation to the long term loyal shareholders.
NWE has always given the opportunity to its shareholders to partake in the CR. Unlike a lot of small cap companies who go straight to Sophisticated investors to raise capital, NWE gives all of us the chance to increase or maintain our equity percentage.

Some on this forum also suggest that they should get better advice.
All the plans which are implemented by NWE are by agreement between the three parties. AWE and Barahat engineers are all part of the team who decide on the course of action for dealing with this well. It is not NWE alone who decide what is to take place so if you are about to cast stones about that then you should also throw some at the engineering divisions of AWE and Barahat.

Finally, none of the people that I know who understand what is happening with this well have sold any stock and some are taking advantage of the low prices to increase their holdings.
The choice is up to the individual investor.