Well at least we now know that Jingamia is only producing from 2 wells albeit at 180 barrels per day which is approximately 11 barrels per day net to NWE.
WTI is currently at US$70 and the A$ is about 70 cents gives us about $100 per barrel.
So we are earning about $1100.00 per day or about $400K per year.
Clearly we need the other 2 wells at Jingamia to be brought on stream asap.
I cannot add any more to the dialogue on the 3D seismic permit.
There is no mention of the additional area of interest in a traditional hydrocarbon zone from the 3D seismic which was done ove the Arrowsmith area.
Hopefully the drilling of the 368 permit will bring us some joy too.
Looking at the map EGO held some large areas of the Perth Basin.
Those shareholders must be gutted.
NWE Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
