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(ASX:NWE) Among WA Billionaires at foot of world-class gas play, page-70

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JB35

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27/12/22

13:22

Post #: 65451413
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Originally posted by RedRooster2: ↑

Some extracts and quotes from CE reported on 'Investor Insight' Dec 17.
The LD well spudded in July 2021 and by September that year, having reached a total depth of 4274m, was declared "A significant discovery".
Appraisal drilling of LD is expected to start next month. LD should play a key roll in MinRes dual-focus gas strategy and the market is now awaiting news on the discovery's size (Expected to be more tan a trillion cubic feet), development options and capital costs.
From CE:
"We need to clean it (the LD ownership structure) up and bring it in house, it will make it easier for us going forward."
"It is about $15 million a (drill) hole to try to find out how much (gas) is there, we really don't know how much gas is there until we put down 3 or 4 more holes."
"A couple of others in the PB have been a bit bullish on what they have found and they have had to pull back."
"I dont want to be in a position of creating false expectations to pump our SP, I just want to tell the news as it is."
"We got some great news first hole in the ground, whoopee we got gas, but we have been around long enough to know that as we progress anything, you get some bad news some days as well."
"There is no particular reason for the timing (of the NWE bid)"
Covering all bases is CE.
Norwest's board has issued the standard 'TAKE NO ACTION' interim response while it ponders its next move.

MIN want the whole deal and in my opinion have been prompted to move on NWE because of building interest in the PB and in particular LD and the Norwest JV position.
It is possible that a third or even fourth party may declare on NWE, but if this doesn't occur in the shorter term it is vitally important to take no action, if we want to get out fair share of the pie and I sure as hell do.
What alexei has been posting is spot on and our decision making is going to be very important in proceedings.
I don't believe the drill program will be held up by MIN to achieve their end, it is riddled with danger that action, so we hold on as long as we can and await further advice from management.
BIG difference in results with a SP of 6c, then 12c, then 24c Or more!
Do your own maths and see how much it means to you.
This Is not financial advice just my opinion and understanding of the situation we are all in.
As have said before we are in a very good position so lets make the very most of it and make CE rue the term of nuisance he so blatantly used.
GLAH.

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I think Alexei is on the money too. I'm not taking any offers from Min, and the advice that wet got from the board (TAKE NO ACTION we'll see next year ), I don't think was good enough, We'll see how strong management is when the time comes.

NWE Price at posting: 5.7¢ Sentiment: Buy Disclosure: Held
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