* Irwin River (total interval depth 330 metres, secondary shale gas target) Unconfirmed flow rate. NWE comment: "The flare ignited within six hours of opening the well which is an encouraging sign". Assume: several 100,000 cf/d
* High Cliff Sandstone (22m) 777,000 cubic feet per day NWE comment: "This rate is expected to be significantly higher once the zone is fully cleaned up with a high proportion of injected water produced out of the zone, enabling the gas to flow more freely .."
It looks to me as if it is hard to avoid a conservative estimate of 1.5 to 2 MMscf/d, which compares favorably with AWE's Senecio-2 well (1.35 MMscf/d), believed to be commercial. Once these results from relatively small vertical intervals are extrapolated to long stretches of horizontal drill pipes, you are beginning to look at a lot of gas …. Meanwhile, buyers (in Perth and India) are ready to sign the cheques.
Don't worry about daily share price gyrations. Good things take time.
=================================== Opinion only. No advice intended. Do your own research.
NWE Price at posting:
4.4¢ Sentiment: None Disclosure: Held