I certainly have Pottermore. Scratch 10c, I've now got 20c as my target.
I do remember posting back in Oct 21 that if an offer was made at 10c I reckon I would take it. And I fully respect that you felt that was too low... but in context at the time NWE was ~2.2c... it was just post news of LD-1 having the "cement" issues (OMG). My confidence was tested and the risk was high that the well could be severely compromised. It could have been the end of NWE. Fortunately it was rectified and the SP recovered. And here we are today building significant momentum, pushing hard at 4.6c.
But I guess your question just highlights my point about always evaluating perceptions of value at any given point in time. Having worked in Corp Fin / M&A it is something I am always thinking about. Especially when considering the chance of corporate action.
Back in Oct 21 we had no idea of the enormity of the LD-1 discovery. We thought the GCoS for LD-1 was only 38%, we thought the LD structure was "only" 66km2... then it was upgraded 40% to 92km2 and then again to an enormous 100km2. We thought best case prospective resources was 1.12TCF... since now upgraded to an estimated at 2.5+TCF (by our great resident geos), and we didn't know that LD-1 would flow at a staggering 117mmscfd. And we certainly didn't know back then what we do now of the strength of our prospects / leads... potentially a 5+TCF gas kitchen! So yeah, 10c would have been OK for me back then... but now? Not a chance.
My point is, as we progress through our appraisal process and the more data we gather, NWE is progressively de-risked and the SP (hopefully) appreciates. In this example it's been a 100% increase since Oct 21. Not too bad really... especially if your average buy price is ~1c and you have an 8 figure share holding.
So we have the upcoming ringneck 2D seismic to look forward to and then the multiple appraisal and exploration wells and then our 3D seismic next year. I hope to God we get to see these through as IMO all of these events will further validate the impressive acreage NWE hold and I believe our SP will easily be 10c to maybe 15c come early 2023. FWIW I have no intention of selling out to any low ball offer and my confidence is such that I intend to keep accumulating on any weakness, as it is clear others are accumulating at a rapid pace (courtesy of BP).
I also have to say I am amused at some posters on other threads who have said NWE only has 20% of LD-1... questioning our value... but I would very much rather 20% of a very, very big number than 50-100% of a relatively smaller number. Not having a go at any one or coy... but simply believe that NWE will very soon be a $1bn coy... and I will be bloody happy to have backed them the whole way.
hagwe
