VIDEO: Norwest Energy well-funded and continues to kick goals at Lockyer Deep-1, page-382

Top 20 just came out... and no surprise, the Top 20 continue to accumulate... lead again by our JV buddy MIN.

Notable movements are:

• MIN @ no.1 has added another 57m... now sitting at a total 19.62% SOI
• Citicorp Nominees are now @ no. 4 as they added another 45m shares (leapfrogged HSBC no.2)
• P Ainsworth @ no.10 sold 5m shares
• National Nominees @ no. 13 sold 9.5m shares

You can check it out here http://norwestenergy.com.au/company/capital-structure/

Top 20 now up another 1.30% in the week to 41.81% SOI. Of the 145m shares traded for the week, 60% went into the hands of the Top 20... it would be great to get some broker data to identify who is selling... is it all retail? HSBC are sitting tight... at a combined @ 6.4%. FYI MIN can only buy another 25m shares before they hit the 19.99% ceiling... unless....

As brutal as yesterday's sell off was, the reality is the Top 20 are continuing to accumulate and yesterday's panic would have been a great time to "top-up", IMO. But as Barney said... 2 weeks ago we were stuck in limbo around the 3.3-3.4c mark... just to put things into perspective.

Also interesting to read some of the first comments from our new federal Resources Minister Madeleine King “While the government is now bringing in an energy plan which will get working on renewables, and that’s our very determined ambition, gas is the transition fuel that is able to bring down emissions in the short term.” “So it’s not a perfect answer. We’d all love to switch straight from coal to renewables. But it’s simply not possible."

As the state and federal govt's accelerate plans to shut down coal generators (as seen in WA yesterday), this will only strengthen the demand thematic for gas. Positive affirmation for NWE.

GLTA