"Managing Director of Norwest, Iain Smith, commented ‘’The unsolicited Offer from our joint venture partner comes at a time when we are on the cusp of a transformational drilling and seismic campaign which aims to prove up Australia’s largest ever onshore conventional gas field. Perth Basin gas is becoming increasingly valuable, as evidenced by the ongoing and intense bidding for exposure to the high-margin Perth Basin Permian gas play. Mineral Resources stands to benefit considerably, including as an end-user, if it is able to consolidate ownership of Norwest’s assets to secure full control against a backdrop of an increasing WA domestic gas price, the possibility for export and the creation of new downstream industries."
NWE Price at posting:
6.9¢ Sentiment: Buy Disclosure: Held