NWE 0.00% 5.6¢ norwest energy nl

no worries for tp/15 farm-out

  1. 5,696 Posts.
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    Although people scared, SP retreat, there is still no need to worry the TP/15 farm-out. Because NWE has already received at least one formal farm-in bid for TP/15.
    The worst case is the farminee can only drill Red hill south plus one shollow well in EP 413.

    a, "Norwest expected to conclude farm-out discussions for
    its TP15 permit by the end of March"

    "Conclude" means it depends on NWE to make the final decision----farm-in bid already received.

    b,"likely to deliver a considerably more favourable
    outcome for Norwest."

    "more favourable" means NWE compared it with the farm-in bid it already received.

    c, The bid NWE talked in Feb and nearly accepted,--- is to drill Red Hill south for us only, NWE remians 50%, being the opreator.


    d, In mid March, when AWE annouced the Shale gas potential, NWE decided not to accept the bid---NWE now wanna the farminee drill three wells, one in Xanadu, one in Red hill, one in EP 413.

    e, if NWE can accept the farminee drill red hill only---farm-out agreemant can be signed anytime.

    g ------------UK

    It's first time NWE mentioned Farm out wessex basin.
    Peter was in UK last week.
    Peter mentioned one company wanna farmin.

    I believe Peter has received the invitation about the farmout---otherwise, you know it's too busy for NWE to think Farmout UK business now.

    That means the potential farminee is in UK, and imv it's possible BP.


 
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