as cash flows start to stream from puffin in 12-18 months I...

as cash flows start to stream from puffin in 12-18 months I think SP of 6c alone on that is reasonable. If the southern region comes on line we may see 15cvon that cash flow.

as anticipation builds close to tp15 well i see another -3c on the back of that.

investors are always a little nervous with overseas interests so i see the isle of wight and dorset as worth 1 c each in anticipation.

Then there are the other WA permits which could help consolidate the share price, but for arguments sake lets not price those in.

so realistically i think we will see 10-15 cents in leadup to tp15 well and as royalty starts to trickle in again. in the short term i think 6c is reasonable given the internatonally diversified (and low risk on shore projects)

if any discoveries come across we could see 30c-50c per share (bearing in mind management would farm down norwests interests and get free carried into a well). theyve got a history of that and its smart business for a small listed explorer...a sound risk management strategy.

Either way 3c is a good buy in my opinion. if this goesto 10c-15c i could potentially buy a house in cash but i am really keen on tp15 and The UK projects.

Please dyor i am a smart bugger but dont have a AFSL etc etc these are just my justifications for why i am long in nwe.

C