Tweets that's correct re NWE's best interests, but I think they have been held hostage to the wishes of the jv partners in regards to the test program.
It would have been much better for NWE shareholders given the co's financial position if the gas flows from the lower layers had been proved up first to put a floor under the sp before fluffing around in the Kockatea and the oil..however huge it may or may not prove to be. BUT...it suits Bharat and AWE to go this way, because they don't care (for their own seperate reasons) how low the NWE sp gets as long as they can remain solvent to carry out the test program....it simply makes NWE more vulnerable.
I first started buying into NWE after reading up on them pre fracc last year as I saw them as a clear T/O play.....nothing at all has changed there except that the price will now be much lower...but still high enough for those that bought at the top to get out with the shirt still on their back (hopefully).
I would be delighted to be wrong and see a 10 bagger from here....but I think we'll have to settle for much less.
NWE Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
