They will have enough data from this test to go for an independent resource assessment based on the first well but they might choose to delay that until the Ringneck Survey analysis can also be given to the resource assessors to give a more comprehensive picture. That report ought to spark some price action. Timing depends on when they instruct the assessor and whether they want to include more data. Typically these resource statements get revised as more wells and seismic are completed with conversion from contingent reserves to actual.
I note the current price pullback is a lesser percentage than observed in the October/December period. Given history often repeats within stocks I don't see anything untoward in the current price behaviour.
NWE Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
