It seems to be that people are worried about crazy dilution and...

It seems to be that people are worried about crazy dilution and CR's.
I don't see any company trying to raise $10mil+ via a CR at 1.5cents a share (700 million new shares is not going to happen). I'd be happy to see a consolidation of shares if anything in the near future before too many more CR's.

I imagine there will be outside funding for the project, either selling a portion of our share, organising a deal with the JV's or some sort of loan... As was mentioned in the research report.

If A2 proves the resource then I can't see why we could not have a company fund A3 now in exchange for gas when we reach production (with an obvious upside to taking the risk for them).

To be honest I'm fairly certain it was only us posters talking about production happening soon, aside from the long held 2014 production target..which was set before any of these delays. (If delays occur it makes sense to move back the target date as per the length of the delay..which everyone seems to have trouble with)
Read any of the quarterlies, they all say "proof of concept well".
Read any of the other announcements, they all say "proof of concept well" or "exploration well".

Yes, we are close to the pipeline.. we know this. We also know that it does not making business sense to go OH GOSH GAS and hook it up straight away. You need to properly evaluate what you have before you can think about producing and selling your resource.

I think the market knows how early into the exploration this company is, the only people who post in this forum are either holders or people who know of the company so our opinions are skewed to the whole process. We aren't seeing the S.P fly into the 10-20c range because we have no set figures of what we have, we have no 3D seismic showing us targets, only 1 well drilled that was never more than a proof of concept and we aren't producing anything.

The share price will go up according to the value of the company, we all know this. This company has a market cap of $15mil because that is all we are currently worth. If we have the horizontal well drilled and solid, accurate figures of the gas rates then we would be valued according to that. No one will buy a company for $200mil that has nothing but hopes and aims to the future, with millions of dollars worth of research and work to go. That is why the market isn't "reacting" to NWE.