Sentiment has turned to the positive it seems, impressive to see...

Sentiment has turned to the positive it seems, impressive to see NWE in the green and on decent volume on such a deep red day.

I think the market is now really starting to take notice of NWE.

NWE has not necessarily been on the radar of investors - be it small, sophisticated or institutional. It was only a $5m MC O&G minnow not that long ago... even I was worried about going concern issues. BUT... The flurry of announcements that the market has seen in the last week (i.e. from STX, WGO, BPT etc.) will have benefited NWE in being distributed to a larger investor audience. And from there it is not hard for the market to realise what NWE is sitting on. The potential for multiple ROI is significant. I think we have all come to that conclusion since the announcement of the 8th Sep: "Significant Gas Discovery at Lockyer Deep-1"

It also got me thinking and looking at the trading numbers of late. We have had over 380m options traded since 8th Sep. That is approx. 57% of issued options. Just speculating... could a potential acquirer be accumulating options... without triggering 5% disclosure... and waiting for a time to convert and declare their position on the register? Wrt to heads, there has been over 3.1bn traded... again, approx. 57% of SOI... coincidence... we shall see. The coy has just updated it's Top 20 list and no doubt NWE will be keeping an eye on their register. I believe they also have the ability to trace the beneficial holder. I have also seen a fair few cross trades of late... but I am keeping an eye out for the larger "S3 XT" trades. That will be a sign.

So when flow testing is complete (IMO the cement issue will be fixed, no abandonment or side-track), 2 things will happen: 1. Either MIN or someone other player will make an offer or 2. we will stay on our own two feet, launch a CR at a much higher SP and raise enough $$ to immediately launch into an LD appraisal drilling program (3 wells) and, hopefully, spud some wells into the other leads once seismic is done (looking at you Lead E!).

The real crux will be securing a drill rig. There aren't many rigs that can drill to the 4km+ PB depths. Ensign rig will go back to STX... then there is the Easternwell rig which was used for the WE-2 well... but I believe that is in the Otways with Origin ATM ??. And with BPT/Mitsui planning 3-6 wells in their own PB permits next year... IMO securing the rig will be crucial to maintaining momentum.

Perhaps getting ahead of myself but I am certainly getting more and more excited about how significant a transformation this is for NWE and us shareholders.

GLTA