NWE 0.00% 5.6¢ norwest energy nl

I have always found I learn more from polite conversation where...

  1. phx
    510 Posts.
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    I have always found I learn more from polite conversation where you do not agree on something, than where everyone agrees with everyone.

    I agree that the disclosure requirements for NWE have nothing to do with MIN.
    They will do their own assessment and as has been discussed previously may have a different disclosure obligation to NWE.
    Everyone is expecting too much from ASIC.
    The best thing is to keep track of everything that happens and try to make a case in its totality.
    Some people here are understandably too emotional re the takeover to look at events from a more neutral perspective.

    re disclosure on drilling.
    To me, it would be nice to know the depth they are at etc.
    However, if the drill is just doing its thing as expected I don't know what they need to disclose.
    If something unexpected happens or the drilling is complete - yes.
    But the drilling proceeding as expected - no, imo.
    I'm very interested to see the details of the trading halt.
    With the limited disclosure to date, something has happened with the drilling to prompt them to do the TH.
    A trading halt implies price sensitive.
    If it had been normal progress or even completion of drilling - yes disclose it, but not worth a trading halt.

    Regarding emails and other correspondence with the BOD, I think there will be a big change from the previous BOD.
    Some boards are happy to discuss things with shareholders and some not.
    I was always very careful because it's easy to get yourself in trouble answering specific questions to one person, rather than to all shareholders.
    And to put those answers in writing ....
    If you give the wrong information it can lead to claims of giving market sensitive information.
    Alternatively, it can be used later to say you did this and it was late or never happened or something else happened.
    Many directors find it not worth the risk or the hassle.

    In the same way, the person the company secretary sent the notice to - that is a nothing.
    The directors would not normally send the TH notice, that's the job of the company secretary.
    She has just sent it to the person she knows in the area where it needs to be sent.
    Makes it easier on everyone.

    Re NED1 - hopefully the drilling programme for this has not changed.
    If it has, I think they would have to give some information about it.
    It is possible that with a new BOD they can prioritise things differently and decide that getting gas sales is more important.
    Certainly, a reasonable position for them to take.
    Get funds in to do a more extensive exploration program.
    Not saying I agree, but if that is what they decide I can't see that there is an argument that they are disadvantaging the minority shareholders.
    Nothing wrong with prioritising being a company that is earning $$ and is self-funded for ongoing exploration.





 
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