I might not have posted on NWE before and only a few times but I can tell you that I have done a bit of research. Nothing earth shattering, most of it you old hands have probably covered.
Magnolia has certainly got a lot going for it. The area is a known producer, from 23 mmbo @ Montara complex to the south east up to 171 mmbo at Jabiru to the north east. All of these along the same linear hydrocarbon migration pathways in the Timor Sea. Magnolia is smack in the middle of this pathway. Seismic data seems to have the CEO excited.
Another is the farm in partners, AWE and Arc Energy's Adelphi Energy( this is the first well for Adelphi, so they are going to want some success to prove themselves ). This is a vote of confidence in the potential of this well.
Here is some research if you haven't read it already.
This really does smell of success, I'm not really worried about the noise that is going on at the moment. I wouldn't be surprised if we get a trading halt. If we do, all you guys that were thinking about it, you will have missed out on all the upside.
Good luck.
kojasper
NWE Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
