re: acturtle/ascending triangle breakout pattern
Magnolia is not for sale.
It will be drilled at virtually no cost to NWE. Odds of success are 4 to 1 or maybe a 8 to 1 depending on who you listen to. NWE say 4 to 1.
The reservoir looks like 80 to 100 mbls and NWE's share of that is 20 %. Recent sales of oil in the ground have been at $10pbl and if successful this is worth $200m to NWE or over $1.00 per share plus.
It's worth $1000m to NWE if produced and sold.
I am happy with my valuation of 10-20 cents to NWE now. This will be drilled, not sold.
Sounds like someone wants to buy into NWE and missed out.
NWE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
