Every setback NWE has had over the last 2 years has proven to be a buying opportunity.
From the frack objections, government review, market correction and now, a temporary operational disappointment on a secondary formation (which exceeded results and may yet proceed to flow at MUCH higher rates).
+ives - there is oil someone in EP413. - there is gas in all five formations (upper/lower Carynginia = 2 formations) - we are about to get onto the real stuff with teh Carynginia. - IRCM looks to be better than first thought and wasn't included in any of the previous IEA estimates. - HCSS were a bonus and has come in much better than expected, with further significant increase in flows + it extends into the first 80 metres of the IRCM
If you can afford to hold, this will turn around very quickly IMO.
They've wasted 3 months on the Kockatea, so I hope they get on with the rest of the well.
THere is so much to look forward to.
NWE Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
