re: drilling?
There is supposed to be a 90% success rate in the area with the US operations. Announcements have stated that if successful they could add about $3 mill in revenue for NWE per annum. Often people see success breeding more success and should hopefully, if successful push shares higher before the Magnolia drill. I think after we have hit the recent high of 12.5 cents, we may see the 14-15 cent mark touched. If Magnolia is a commercial oil discovery, then we will see blue sky. ARQ management stated that there is a 20-25% chance of Magnloia being successful. This means that there is a 20-25% chance that NWE will have net 20-25 million barrels of oil.
NWE Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
