Hi DollarsandsenseSorry if you feel I was 'nitpicking' but it...

Hi Dollarsandsense
Sorry if you feel I was 'nitpicking' but it was a pretty strong statement you were making.
Your above post is a good one, well reasoned but I would argue that you don't give consideration to a number of factors
1) Yes NWE are operator but they are also a minority stakeholder. They have to deal with partners and their are consequences for going all rogue on their asses. There are ironclad j/v agreements in place its just not as simple as you make it out imo
2) As you rightly point out this is not conventional oil, indeed it is cutting edge in the Perth basin. It is potentially a large resource and there will be many many wells. Its will require a large investment involving many risks to all parties involved.
3) Risks must be managed by the board and funds have to be managed in that light. Our management has a 'careful' approach, too conservative for some. IMO it is this approach that has led to partnerships with the like of Bharat. Co's like that don't let cowboys with minority ownership operate their assets. Partners that we need to stay in the game.
4) As operator they contracted the highly experienced and respected services of Haliburton to conduct the frac operation. Not everything went according to plan but the well has still been a success as a pilot well and a source of valuable info for future development and production optimisation. A-2 was always touted as a pilot/test well not as a major producing asset. A-3 will be the 1st fully fracked producer.

I just think that there are some issues that you overlook in your synopsis, on the ground realities of a company punching above its weight in a very difficult market for spec stocks and many "investors" with very little tolerance for anything but instant riches.
I certainly share your frustration with the shareprice.