Like most oilers they have potential upside due to acreage held and seisimic delineations on that acreage; not to mention an astute management team.
Shale gas potential close proximity to AWE's WA drilling. for the same commodity and where AWE I believe has had preliminary success.
1.25% overriding royalty on AED,s Puffin field.
Has already received royalty payments and doesn't have the risk.
This partly resulted in the SP being around 32c 18 months or more ago and tapered off temporarily when AED had contractural problems with the FPSO.
When AED get back on the job plus drill other prospects that they have in the same permit we will see an increase in sp once again. So that's all good imo.
Added to that is their acquisition of TP15 and the prospects of that alone are deserving of consideration for an investment. They hold 100% atm and I am optimistic about that permit alone. Obviously a farminee would help to shorten drilling timeframes.
Don't forget that EGO has just had a gas and condensate find at their front door as well.
So all this useless information should help to make your mind up No?
NWE Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
