This prospect map has just been released by TEG, but it has been on their desks for some time - the 3D survey they did in June last year would have been putting data on their desks throughout the latter half of last year.
And remember, Talon and NZOG committed $10M a piece for 25%...in Dec 2022/Jan 2023 - they would only put money down if they had a look at the 3D and liked what they saw.
The biggest prospect they list is...Booth...and TEG have put a figure of 700 bcf on it - (presumably thats how much is on their ground). Have a look at where it is sitting. Have a look at how much of it is in the MIN/NWE ground. This map is not all that new. TEG published a precursor to this that showed Booth and showed most of Booth is likely to be sitting in the NWE ground. Have a look at TEG 2022 quarterlies - its there.
i wonder if this had been released back in Dec 2022 as originally planned, how many NWE SH (that were not MIN shills) would have bailed? Not that it should have made too much of an impression. Leads E and D eclipse this by miles...
The other interesting thing here is to look at the "density" of prospects/fields in L7 yielded by the 3D seismic - and have a look at the wide open spaces in EP368/EP426 surrounding Lockyer. It begs the question...what does MIN (and the former NWE board) know, that we don't know? What "compelled" CE to "wake up one morning" and decide to bid for NWE? What will the 3D seismic, just completed by MIN/NWE show us for the rest of the ground?
NWE Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
