heres the scoop crew :): ) $$$

We can only imagine where NWE will end up once this pans out in the ST and with no soverign risk it dosent get much better crew :)$$$$$$$


[Source: www.proactiveinvestors.com.au]

Norwest Energy

Norwest Energy is an exploration and production company with assets in Australia. In Western Australia, Norwest holds interest in two producing oilfields, Puffin in the offshore Vulcan Sub-Basin (AC/P22) and Jingemia in the Perth Basin (L14/EP413). It also holds interest in a further three permits in the Perth Basin TP/15, EP368 and EP426 which each contain high potential prospects.


Norwest Energy shares rise on potential for shale gas in Perth Basin, WA
Friday, March 19, 2010

Norwest Energy (ASX: NWE) has noted with interest the release to the ASX by AWE (ASX:AWE) on 17 March 2010, stating that it is pursuing shale gas in the Perth Basin, Western Australia.

In particular AWE refers to its acreage interest in the basin including EP413.



Norwest has a 55.606% interest in EP413. In addition Norwest has interests in other permits in the Basin with shale gas potential. The total acreage, net to Norwest, is 376,211 acres (1522.5sq.km).

Norwest is watching AWEs activities with interest as it progresses its shale gas initiatives.

AWE is currently conducting its Woodada Deep Coring program to test the shale gas potential of the Woodada licence that adjoins the southern boundary of EP413.

The Perth Basin shale gas potential is of significance to Norwest, said chief executive Peter Munachen.

If you follow the US shale gas plays such as the Marcellus and Barnett, its all about acreage. We have the acreage and we know that the shale is present throughout the Basin. Its now about dealing with the technical issues such as determining the recoverability of gas and whether it will be a viable commercial proposition, he added.

Given Norwests acreage interest in the basin, the company is well placed to capitalise on the shale gas play in the event that AWE has success with its Woodada Deep shale gas testing
program.

Norwest is in a particularly strong position because the companys acreage contains three shale sequences that are present throughout the basin the Kockatea Shale, the Carynginia Formation and the Irwin River Coal Measures.

Target shale sequences are up to 1000m thick (within EP413) and the WA gas market is strong with LNG netback pricing.

Additionally, the company has extensive acreage with a Norwest permit footprint of more than 1,000,000 acres (about 4050sq.km) (with 376,211 acres (1522.5sq.km) net to Norwest). Also, the Perth Basin has existing infrastructure, including pipelines.




Lets hope to see a big close today as the UK news filters through the market allready 25M vol so far surley the sellers are drying up at these levels it,s a bit like buying $1 coins for 20 cents ATM ops like this are rare and the market is picking up on this one and the proff is in the Vol and SP rise the last couple of weeks goodluck all :)$$$$$

Happy Days

GB:)$$$$