Management over leveraged the company to WA shale gas at the...

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FiendishRedbeard

9,111 Posts.

909

08/11/17

05:14

Post #: 28588371
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Originally posted by tui ↑

burg,
Thanks for that. I am a long term supporter of NWE. We have had some real bad luck.

1. The huge AED oil find did not produce. It was a close thing but they stuffed the drilling up. Water sort of ruined the field. NWE had really good royalties.

2. Failed in a drill in WA due to lack of fault seal. Looked good but no oil.

3. Arrowsmith gets delayed due to greeenies. Cost the company a fortune. I would like to drain their petrol tanks and cut their gas lines.

Since then it has been good news.
1. Arrowsmith confirmed as large potential gas source
2. Jenemia about to produce again. In an improving POO environment. The Middle East is HOT at the moment.
3. EP 368 AWE estactic about Waitsia results. NWE right next door with 20% of permit, maybe more if EGO default.
4 XANADU. What a jewel to find. And with more to come...I hope.

I am only speculating but if NWE can confirm 160 mmbbls plus at Xanadu with further prospects in TP15
then , as you similarised , even this multi billion share company could really fly.

The price of oil is headed higher.

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Management over leveraged the company to WA shale gas at the wrong time and diluted the company to oblivion. This was not real bad luck but a strategic decision. Green opposition didn't suddenly fall from the sky at the time either.

Xanadu was in their PF all this time on the back burner so I hope it comes in. Make no mistake, NWE are drawing dead if oil does not flow.

NWE Price at posting: 0.5¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

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