5 more mths, is it abit tight?, page-3

i will really hope that farmout be done by Q3 thou. at least there's some planning judging from the ann in feb about the well planning ppl looking out for a suitable rig to drill directionally out to the targets at xanadu.

but imo without a JV i really think it's quite a no go to drill tp 15 ourselves, it cost 7million to have a directional drill operating.

i feel that the mrkt is valuing NWE for its puffin assets and not much for the rest atm, due to both the general mrkt mood and the uncertainty in TP15.

hope things really speed up here.


however with a farmout (retain a 30% free carry) would see NWE re-rated to at least 6c and a real busy period for NWE before the end of Oct drill.