People on this forum remain blind sighted and continue to focus in the rear-view mirror: another delay, management have taken too long, we should have raised money at 10-cents. Well done to you all - hindsight usually is 20:20.
But why don't we look forward for a moment? 1. Each of the 5 formations that we have fracced is flowing gas. Each of these plays will have designated wells attached to them and will likely produce oil, gas or both.
2. Over the next year to year and a half (that's right, 365 days give or take 180 for NWE time), we are going to see horizontal wells put into all of these sections multiplying our current flow rates by 6-12 times.
3. We will not have to raise capital before our completed flow tested results and our D&M reserve statement is released. And guess what - with these details out in the market, NWE will not have to raise capital through trusty shareholders - some sort of convertible note will likely be how the company moves forward (check out how the mining companies do it after JORC compliance).
4. We have extra tenements... why wouldn't they be up for sale? Wessex, TP15, and a whole host of additional shale acreage in W.A are worth money, both on a farm out as well as a sale. I bet peter is getting plenty of interest from both Australian and international players that need new projects.
5. Shale gas is revolutionary. Australian investors are yet to fully understand the magnitude of it. Most of the shale projects in the cooper basin will never be commercial - they are too far away from pipelines / distribution markets. NWE has the ultimate advantage here.
The point is, NWE we will be a success, it is only timing that is not progressing to plan. So determine if you are a long term holder or a short term one. trade accordingly. When this thing is above 50-cents and we are trading thousands of shares per day in stead of millions, all of these non-believes will be kicking themselves for not loading at 3-cents. We will see, but lets focus forward... not backward... Just my opinion.
-Lucky
NWE Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
