It "could" happen, but I give it a low probability. NWE and MIN are competitors in the gas market. Only yield the slot if a significant deal was made which would have to cost NWE/MIN "something".
West Erregulla 3 started 18th September, not tested, plugged and suspended. Rig now in position for WE4 today, 25th Jan. That is 129 days I think, from one hole to the next.
Now you can argue the well ran into problems (as did previous wells) so it was longer turnaround than most. But they did skip drill to bottom of hole, and extended testing over possibly 2 zones, and there is nothing to say the same problems or worse won't occur. WGO/STX have to drill WE4 then WE5 and renter WE3. Their maybe a break in re-entering WE3 or WE5 depending on the result of 4, wait for special equipment etc.
Would they really want to give up the rig for potentially 90days for NWE 1 well? (notice longer than the 2 months said by Iain)
To quote the prophet Daryl Kerrigan "He must be dreamin' " ... actually I couldn't resist writing this. I do think it is slight better than that.
Shareholder in NWE and WGO, similar amounts.
NWE Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
... actually I couldn't resist writing this. I do think it is slight better than that.
