The ongoing cash drain to keep the company going is truly a sore point. The last Northwesterly stated that 3D seismic for the Arrowsmith field would be conducted in Q3/2013. Now it is Q3/2014- without explanations of why it has been delayed so much???? The 3D seismic is also required to determine the position of A3 so we can expect another delay I presume?
The credibility gap of today can only be improved by making credible statements and following through with results. Moving from "this will occur by x" and not delivering to "we don't know when it will occur" has not improved the situation. It is a shame that performance based pay (on outcomes rather than hot air)is not how our team at NWE are rewarded. A $200k+ Appendix 3Y by each of the Board Members would also be welcome given how "encouraged" they are by the progress of the company.
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