The CAP raising is going to be the show stopper on this announcement. Too many tired holders in here at the moment and will need a washout of the new "Floating" shares. (Those that brought in to the CAP raising on anticipation of a quick turn around).
These shares are going to need to go in to new steady hands hands and while this is good news for NWE as a company. Its going to need a bit more then flow rates to kick this to higher levels
As Dice has said.. its going to need the sniff of a takeover and or the certainty of a work plan (i.e 3D for frack programs, time frames and new drilling program) to get this out of the trading pattern.
Next announcements would be nice to here some work being done on the UK prospects as this will shine the light on to its other great prospects and as the UK is a hot topic at the moment, it will give Mr Market some excitement. (Which as you know..hype goes a long way in moving a share price north)
All in All.. as some of my holdings are Long this is a positive announcement.
NWE Price at posting:
3.1¢ Sentiment: LT Buy Disclosure: Held
