agm

I have always posted on here how highly i have regarded NWE management team and now after finally meeting Peter and his team all i can say is i was never wrong. They will make this work if it the last thing they will ever do.

Here is my personal take on the AGM.

Peter spoke for a bit but let Andrew and Shelley present most of the AGM.

Andrew summerised breifly he talked about North Errugulla and the UK which there will be heaps of action next year.

Shelley did most of the presenting on Arrowsmith2. This lady knows her stuff!

This is my take on how Shelley presented.

- The Perth Basin has a estimated 59TCF and that is only in 2 formations, we are fraccing 4 formations.

- We know that there is gas down there, but the fraccing will be the ultimate test.

- We should be getting our decision any day now on the fraccing (fingers crossed)

- She stated MANY MANY times that we have to get this right the first time, we have to take our time.

- The americans who have helped on the fraccing are excited. They know what is under there, they have seen this before.

- The americans are excited about high cliff.. very very very excited!!!

- If they can get high cliff to flow they will put it in production straight away and this will pay for the future drilling costs.

- Shelley has been working day and night on this project, the time diffrence with the USA means that she is up all hours of the morning. They are working closely with the american experts on this. The americans know how to get this stuff out of the ground people.

She presented very very well ans has been working day and night on this project.

The NWE team are working there butts off to make this happen, they are also dissapointed on the delays.

After meeting the management team, i would not care at all if there were more delays becasue i know they will get this right!

Compared to other asx companies our size, Peter is not on a huge slary most CEO's are on 650K +

He has also got his hard earned cash on this just like the rest of us.

The greens are hell bent on not letting this happen. but hey they all use air conditioning, computers hot water and they will even have to use electricity to power there battery operated cars... HYPOCRITES

The EPA and DMP have approved our fraccing we should have no problem at all in making this happen.

Now i lnow why the likes of Tui and Pottermore are so relaxed and confident, after meeting the management team you will be to!

I asked Peter what he thought on other shale gas area's in Australia and all he said was that NWE we are only KM's away from the pipelines, have the highest gas prices and WA are desperate for gas.

In my opinion this will be huge NWE will be on the radar next year, this company will be the AOE of shale gas!