It was undoubtedly a pour result, but that was really to be expected based on previous tests of the well.
What I don't understand is, why are they still being so broad in their approach?
The Carynginia Formation was and will always be the primary focus here, and yet NWE management continue to collect pointless data.
In several weeks of testing every layer they will eventually conclude that the horizontal well should go in the C layer.
This is something they would have known with almost 99% certainty YEARS ago.
Finding a beaker of oil in the K layer has turned this into a geologists dream, and focus has been completely removed from the obvious.
This needs a fresh set of eyes to give this company some sort of clear direction.
Giving broad announcements stating results will arrive in 'several weeks' (ie 3 or 4 months by NWE time) is no longer good enough at this stage of the game.
Stop acting like a major NWE, everyone knows there is gas, everyone knows the best bet is the C layer, get the straw in the ground and start sucking!
NWE Price at posting:
1.8¢ Sentiment: Hold Disclosure: Not Held
