Now that Vindara has come and gone - regarding NWE's share price...

Now that Vindara has come and gone - regarding NWE's share price in the near term - we might expect some small rise following the - hopefully - successful drilling of CH4. Which I think is to check out the reservoir etc about 750m SW of CH3. I don't think they will do anymore then log and maybe core.

IMHO if there are no problems with CH4 - there might be some smart longer term $$$ come into NWE on the basis that CH will certainly be developed - although it will be some months before formal go ahead is announced and probably be late next year at the earliest before production. However this is the blink of an eye in E&P terms of course.

If they do aim for a 20,000 BPOD output for CH - at a 5% interest this will give NWE gross annual cash flow of around $15m based on a $US20 oil price. Before the various Govt's take their cut of course. A nice little earner. Our company will be in the Oil production business!

I guess there is also the possibility that they will drill Moondah after CH4 just for the heck of it.

Otherwise we are looking at Puffin late 2003??. Maybe some onshore drilling in the WA permit they recently picked up.

Also they still have around $2m in the bank and might look at some farm ins?

Anybody else have some thoughts on this?