who owns or wishes they owned norwest?, page-15

Hi Andy,

As at 29 ,Jan 2010:

EP 368 and EP426 (Norwest 20%) - North Erregulla (28 mmbbl)

"The preliminary review of the detailed Bell FTG report shows basement highs in the prospect that were not apparent in previous seismic interpretations."--upside

"A detailed interpretation of the FTG results will be conducted during the next three months when the specialist technical team becomes available after it completes studies currently being conducted on Norwests UK Wessex Basin projects."


UK Wessex Basin projects.

"The combined surveys cover the entire PEDL 238 license area and have confirmed leads identified by previous seismic interpretations."

"Norwest is currently assessing potential volumes, risk and running scoping economics for all leads in order to establish commercial feasibility thresholds."

"The results of this assessment (which will also include key leads in PEDL 089 and PEDL 239) are expected to be received by the end of Q1/2010."

As at 20, Feb 2010:

"preliminary work has indicated that deep basement-involved geologic structuring is highly prospective
beneath PEDL 239 in the Isle of Wight."

"The work we have done to date is extremely encouraging"

I believe the recent NWE'S optimistic sentiment on Wessex, is based on they already know some results of Wessex assessment.


"With the period of repositioning now COMPLETE, the year ahead PROMISES to be a time of opportunity for Norwest with a number of CLEARLY DEFINED projects to drive shareholder value."

repositioning now COMPLETE!!! What finished recently???

I think NWE again hints TP/15 is nearly a done deal.

Only farm-out TP/15 can be the milestone for NWE to say "repositioning now COMPLETE"