I have posted support for the existing management on numerous occasions so it will be no surprise to any one here if I say to you that the NWE share price would be significantly affected to the negative if there was significant board change, especially if Peter Munachen fails to be re-elected to the board or is in some way removed from the CEO position in the company.
There is a significant failure of some shareholders to comprehend the increase in value that the skills of PM has brought to the NWE company. 1. He aquired 56% of the 413 Permit 2. Sold 50% of 413 for a very significant premium to Barahat and included in the contract a free carry clause for the exploration well. 3. 413 has delivered the first onshore oil discovery in WA for 10 years .... a potentially new Oil field from the Kockatea layer as well as Gas. 4. RAW Petrol and Gas from the Caryinginnia layer. 5. Unknown results from the IRCM todate. 6. Gas flowing from the HCSS at 777mscf/d before it had totally cleaned up. 7. Other petroleum based exploration permits in conjunction with Ego and other companies. One owned 100% by NWE. 8. SPA permit owned 100% by NWE and peliminary work just commencing with this area 9. 4 or 5 petroleum permits in the Wessex region of England which are close to the Wyche farm discovery. All of these permits have the potential to yield Oil and some of them Shale gas as with Arrowsmith 2.
All this has been brought together under Peter's watch and as yet we shareholders have not had to put our hands very deep into our pockets.
We only need one of these projects to come good and the share price that we are looking at will be a distant memory in my opinion.
NWE Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
