"D&M on the other hand assigned gas-liquids ratios to the various depth intervals in each formation resulting in estimation of prospective resources of oil in the shallower depths and gas in the greater depths. D&M was also commissioned to provide a risked estimate of prospective resources by applying a probability of geologic success"
Interesting that they then brought in 'Barclays Bank to advise on strategic options'.
My opinion is that they will get provisional estimates from D&G based on known flow rates and use this to either get bank funding or a CR on the back of a doubling of SP back at the 8-9c range.
The difference between NWE and LNC is that LNC was a 'dart throwing' exercise. (one cosultant gave 223 BOE, the other 125 BOE). Ours is a little more targeted based on the past 9 months drilling. Cheeky
P.S - IMO - D&G are the Phil 'The Power' Taylor of O&G dart throwing.
NWE Price at posting:
4.3¢ Sentiment: LT Buy Disclosure: Held
