one for next week, page-10

re: drilling? Acturtle, NWE's 18 Oct ann. mentioned (w.r.t. Appallachian leases) 'drilling 3 wells within the next six months', with no mention of subject to rig availability, etc.
Magnolia (according to Clearview) is to be drilled in 'early '05 subject to rig availability'.
I'd guess there could be some slippage in Magnolia programming so I'd expect NWE's USA drilling to precede Magnolia. Given that NWE regards the US drilling as low risk I can see some useful upside for NWE before they embark on Magnolia.

As a well-known proponent of the 'buy-early, sell-before-spud' philosophy, Acturtle, would you care to share with us how you intend to approach NWE's drilling programme (ie, hold vs exit)? Your comments v. much appreciated, and Merry Christmas!