what raises my eye brow is they have given us nothing.
none of this information is useful in calculating what this stock is worth as we cant calculate or speculate a annual income.
I think the company is just trying to get the price up by posting EUR's (Estimated Ultimate Recovery) to get everyone calculating big numbers, then at the peak of the hype it will hit the market with a cap raising.
there is $1mil cash in the bank, so a cap raising is not going to be far off now, so timing makes sense. and the higher they can jack the stock price the more they can ask in their cap raising.
from my experience with other stocks, this is a explorer, funded by self dilution. It now wants to take the next step and get into a project where it can generate a income for itself (WA), which it can then use to fund a bigger project (UK) that is a company maker.
shale wells are not fast producing well's, so i am not expecting great flow rates (revenue) as a result from these.
I'm going to sit back and wait for the UK play, if its not too diluted and the revenue it can create with the UK play is worth while I will come back for another look then.
Rgds, TS
NWE Price at posting:
3.8¢ Sentiment: None Disclosure: Not Held
