what strikes me is the unprofessional execution of the project.
To be fair the flow rates (or lack of it) are not entirely managements fault, although one could argue the 'stuck packer' incident has contributed to the malaise we are in at present.
A more important issue to me is the fact that their project plan is either non existing or is limited to the next event horizon.
this is from the last announcement: "It is intended to continue flowing back the well in the short term to conduct additional gas and fluid tests and analysis. Once it is determined that the maximum additional information has been obtained the well will be shut in to rebuild pressure. During this time, based on the analysis of the data obtained, a forward plan will be proposed."
I would have thought when a project plan is developed you have certain milestones during that plan and based on the results on any given milestone you execute the next leg of the plan either a, b or c. Surely the event that flow rates are lower then expected is a fact that can be planned for in advance.
At NWE it appears you wait for the result and then you plan for the next leg. It is unproductive and wastes valuable time and financial resources.
NWE Price at posting:
1.7¢ Sentiment: None Disclosure: Held
