Waitsia Reserve write-down : a warning sign for Lockyer Deep, page-4

Not trying to scare anyone just trying to keep people informed of the risk and that while there has been good success to date, it is not "shooting fish in a barrel". Beach also announced Elegans-1 is a dry hole a few km's west of Lockyer.
There are so many Mum & Dad investors on this forum that do not understand the risk of the oil and gas industry. Regardless of success or not, NWE cannot fund its development without raising more capital than it currently has in the market.
Lockyer is in the same early Permian Kingia reservoir as Waitsia, Beharra Springs Deep, South- and West Erregulla. It's one petroleum system.