Best way to accept is via your broker. you ring them, and tell them you want to accept, then they contact the registry direct and jobs done. My broker wanted me to sign one of their internal forms and i did. If you email your acceptance form to the registry, they need to send it to your broker and get the broker to give it a tick and then they process it. So it takes longer, even two days Im told.
I accepted sooner rather than later, so that MIN would not take their offer off the table after hitting 80%. All those buying today, would settle in 2 days, so they can't accept offer until 2 days. Im stll puzzled as to why such a buying spree today given the well was not as expected.
My view is once they hit 80% they will pull their offer. And leave everyone to sweat. But NED1 is around the corner, literally.
Read my earlier posts of today, ive pretty much summed up what my views are.
One thing I did not articulate was my musings. Something inside me said don't accept, they're bsing about the results or they're hiding something. But I pondered and pondered and said to myself, they would have to be real @#$ts to pull stuff like that. And it would be pretty hard to pull off, because theres so many in the witness chain.
I said to myself, how could i conceal gas in the formation? I went over it in my mind. It has happened before where people have drilled and missed the reservoir fluids due to overbalanced drilling. I could instruct the driller to weight up the mud and deliberately drill way over balanced on approach into the primary and secondary targets. This could have the effect of "pushing" drill fluids into the very permeable reservoir - which means the reservoir is flooded with drilling fluid and the gas/formation fluids get pushed back into the formation and not up the hole. So when they're monitoring for gas, not much gas coming in the hole, as it is being pushed into the formation. And then they say, no gas, no core and continue to drill overbalanced. They get to TD. They condition the hole with more drilling fluid and then lo and behold, when they ran the logs, all they got was drilling fluid in the reservoir. Then I get sidewall cores. And the sidewall cores have drill mud in the pores. hmmm.
Was it something funky like that what prompted the egm resignation? or did the egm resign because the ceo got his nose out of joint after broadcasting the 250 tj/day to all and sundry in September and now its looking like they're going to have to wait a while? I discussed with people and we agreed Id been watching too many conspiracy films and no one would really contemplate to do something like that - just to get another 5% of shares? So it leads me to believe the water is real and LKR 2 was a shitty location to drill, and the egm was maybe the scapegoat. So after agonising over all this, I decided to ring my broker and get them to accept.
One thing i have done. Ive collected all the announcements and reports and presentations by everyone, and in future - if there are any surprises and Judas turns water into gas...people can talk to the judge.
NWE Price at posting:
5.9¢ Sentiment: None Disclosure: Not Held
