Upside Potential at LD, page-102

@AndiNZ I was never much of a patient investor... traded a fair bit back in the day... made lots of money... lost lots of money.... I like to think I am wiser and more mature now.

Wrt NWE... MIN already have their blocking stake of 19.88% and there is no need for them to do anything else right now. I doubt there will be any other predator looking to take a blocking stake of anything above 10%... I think most players in the PB will be well aware of MIN's intentions and the strength of their balance sheet. They are literally printing money of the back of the Iron Ore supercycle price. I don't see MIN losing out if there was to be any bidding war... I think they have learnt their lesson from the AWE play.... Chris Ellison will be well prepared for a fight.

So right now, as we are currently drilling, the NWE SP has taken a bit of a breather, which is a good thing, to go sideways for a little while. But, IMO, it will shortly enter the next step up... probably when we get the announcement that drilling is continuing and well onto our next casing point. Ensign and the Aztech crew have made excellent progress in 1 week and I see our TD being reached not before long. The SP may very well start to nudge high 2c which would give it a ~$100m MC. What will push it higher is announcements proving potential gas discovery... words such as "significant gas shows, high background gas and associated drilling breaks." Then, hoping they can also get full LWD data to confirm thickness of Kingia and High Cliff, net pay figure, reservoir pressure, porosity etc.

If LD-1 is successful, the subsequent flow testing will be eagerly anticipated by the market... and wouldn't it be awesome to hold the PB record beating STX/WGO's WE-2 69mmscf/d rate! That would just be the icing on the cake. A well deserved reward for all us long term holders!

So, long answer to your question, I think if a major gas discovery is indeed confirmed @ LD-1 (and hopefully the estimated resource does hit the P10 1.1tcf figure), I see NWE SP easily hitting 4-5c with a huge breakout in volume. And IMO it will be at that point that MIN make an offer for NWE... hopefully cash... maybe scrip & cash... tbh I'm not that fussed.

Looking forward to the next few weeks... a nice bottle of champagne, chilled and ready to go.

GLTA