Looking at the larger picture this is an excellent result...
"Based on results, and armed with much greater knowledge, the Joint Venture is planning to drill an up-dip side-track appraisal well from the casing shoe, with the potential to be completed as a commercially producing well. The opportunity to also drill a horizontal production well from this location will be studied, with results depending on a final determination of reservoir and oil properties feeding into a production model and cash-flow forecast. Based on the current understanding of the structure, there is an excellent chance of finding a significantly thicker column in an updip location which can be reached from the current drilling pad."
NWE Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
