NWE (ASX) Ann: Significant Gas Discovery at Lockyer Deep-1

Originally posted by justinmetals: ↑

"dulla fiddy" !!!
How many Tcf nett for NWE to be with that kind of Mcap? Too many!!
With 6B shares (including options) Surely a $9B mcap (SP=$1.50) would require be around 3-4Tcf nett (15-20Tcf total across below). Serious blue sky stuff but with full success in the PB and opening to LNG export margins after local manufacturing and offset investment, and 4x export margins for the next decade or two , anything is possible and if lead E is good the blue sky is imminent.

For a TO Divide all the above nonsense by 4 and it becomes realistic in short time for TO at SP= 15c-20c in 12-24 months for 1-1.2Tcf nett to NWE @$1/GJ

Any ideas when drilling is likely in
1 LD and N Eregulla?
2 EP368 | EP426?
And will MIN dictate timing / delay drilling and discovery considering they may want TO?

View attachment 3575798

Snip from cap raising announcement
The funds raised, together with the Company’s existing cash reserves, will be used as follows:
§ Production testing of the Lockyer Deep-1 gas exploration well, contingent upon positive results from wireline logging of the reservoir objectives.
§ 2D seismic survey costs to mature the significant gas exploration leads in the south of permits EP368 and EP426.
§ 3D seismic survey planning for the Lockyer Deep/North Erregulla Deep area.
§ General working capital.
Commenting on the success of the capital raising Norwest’s Managing Director, Iain Smith said: “We are pleased to have received such strong support for the Placement, including from our largest shareholders. The funds strengthen the Company's balance sheet as we progress drilling of the Lockyer Deep-1 well during one of the most exciting periods in the Company’s history. As we now approach the reservoir objectives we look forward to informing shareholders of progress and results.”
Commenting on the success of the capital raising Norwest’s Managing Director, Iain Smith said: “We are pleased to have received such strong support for the Placement, including from our largest shareholders. The funds strengthen the Company's balance sheet as we progress drilling of the Lockyer Deep-1 well during one of the most exciting periods in the Company’s history. As we now approach the reservoir objectives we look forward to informing shareholders of progress and results.”

Expand

Justinmetals, you must be a relative newby to this thread.

"dulla fiddy" was a pie in the sky speculative term for $1.50 SP when Arrowsmith was being drilled and flared.
That SP was never really a possibility, however the term stuck anytime that someone got excited on news and speculation got ahead of itself. In this case, Potts was just having a bit of fun to rekindle the memory.