Great post. Do you have any insight on rig availability? As i...

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Samark

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10/01/21

11:29

Post #: 50063953
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Originally posted by Pottermore: ↑

Yesterday I contacted some of my old NWE spies to see what they could tell me.
They were all very positive.
1. MIN are not the purchaser of the shares so they are not driving the price.
2. The purchase of the 19% or so by MIN was to remove Tamarin from the share register because they had caused NWE management too much grief.
3. The drill pad will be ready this month (January) to go and then we only need a drill rig.
4. All necessary regulatory approvals are in place.
5. STX are the ones to release the drill rig.
6. Share price does not reflect the 2.7tcf of gas at Arrowsmith 2.
7. Xanadu is not a dead option with the identification of another reservoir structure in the southwest area of the permit.
8. Arrowsmith 2 .... 3D seismic also identified a conventional reservoir which is yet to be drilled and appraised.
9. EP426 which is alongside EP368 maybe in the hydrocarbon fairway too.
10. They all have their fingers and toes crossed too .... lol

Just for all the long termers here that have kept the faith.

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Great post. Do you have any insight on rig availability? As i see it, STX has the lone PB rig for five more slots after WE3, plus a reentry. In the very likely case they exercise all Consecutive rig slot options, I see availability after end CY21? Walyering should be quicker than the WEs, but South E likely to be 2-3 month holes too? Hold both NWE and STX, and keen to see firm rig booking here to get this really moving.

NWE Price at posting: 0.8¢ Sentiment: Buy Disclosure: Held
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Great post. Do you have any insight on rig availability? As i...

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