NWE - Norwest Energy

[djones]

Broker report valuing NWE at 36.5c is now on there site:

http://www.norwestenergy.com.au/files/resourcesmodule/@random43781073753d1/1175144791_NWE_120307.pdf

 

[Sean K]

Broker report valuing NWE at 36.5c is now on there site:

http://www.norwestenergy.com.au/files/resourcesmodule/@random43781073753d1/1175144791_NWE_120307.pdf

Quite a bit of upside if that comes to fruition. Or anywhere close to it! More than 100% I notice DJC did a capital raising for them and got $158K for their trouble. Nice. Is there ever some sort of conflict of interest in a company providing a buy recommendation on a company that they have raised $$ for...hmmm, always makes me sceptical.

Puffin 8 drilling results might mean further rerating of this. Has stagnated recently, consolidating just about support at .17-.175. I notice AED has stopped running to. Linked probably. This hasn't had a run coinciding with POI which is disappointing. Perhaps it's due.

(holding)

 

[LifeisShort]

I notice DJC did a capital raising for them and got $158K for their trouble. Nice. Is there ever some sort of conflict of interest in a company providing a buy recommendation on a company that they have raised $$ for...hmmm, always makes me sceptical.

(holding)

Why would there be a conflict of interest? Of Course there must be some sort of relationship between DJ's and NWE but the research report has been done independently without being paid for by NWE. The buy recommendation is fully justified if one looks at the figures....in fact the report is quite conservative.

 

[djones]

NWE was mentioned in the Wise Owl newsletter in the weekend, possibly because of that the buy depth is huge!

 

[spottygoose]

NWE was mentioned in the Wise Owl newsletter in the weekend, possibly because of that the buy depth is huge!

Yep, with a target of 30c.

 

[djones]

Yep, with a target of 30c.

Buy depth at 18c was taken out with one sell for a million shares, I cant understand whats happening with this share!

 

[Sean K]

Buy depth at 18c was taken out with one sell for a million shares, I cant understand whats happening with this share!

Big trade for a minnow. What's your understanding dj? Mysterious....

 

[chops_a_must]

Buy depth at 18c was taken out with one sell for a million shares, I cant understand whats happening with this share!

It is being manipulated, clearly.

It hasn't been allowed to go above .185 nor below .17 for the better part of a month now. But it is consolidating very nicely. There isn't a huge amount of sellers like there has been previously... and I'm hoping that because of that the next run will be the successful one.

 

[djones]

Big trade for a minnow. What's your understanding dj? Mysterious....

I cant see it as insider knowledge of bad results as its linked fully to AED's share price and that has had no activity today. There has been constant selling at 18c whenever enough buy depth is on the boards so someone manipulating the stock or wanting to get out of the stock slowly?? Cant understand why though, especially with broker reports coming out with big valuations. Hopefully they have been sold into buyers with long term intentions!

 

[spottygoose]

Puffin-8 Strikes Oil
Drilling Progress Report No 6
Puffin-8 has penetrated the first of three mapped highs (refer to figure below), encountering the top of the oil bearing LK1a reservoir at 2022.8 metres True Vertical Depth (TVD), approximately one metre higher than at Puffin-7. The well has subsequently drilled on a nearly horizontal trajectory, 9 degrees from vertical, covering an oil bearing interval of more than 73 metres to date, measured along the well. An initial penetration was made as a “pilot hole”, which was used to better delineate the mapped structure. Accordingly, the present well trajectory will be referred to as Puffin-8 ST1.
Upon completing the drilling of the first high, the planned well track is expected to encounter a small mapped low, similar to Puffin-7, before penetrating the second of three mapped highs, with additional mapped oil bearing formation. The third high targeted is north of the oil bearing Puffin-1 well.
Puffin North East Depth Map, April 2007
Subsequent to finalizing all drilling, the well will be completed with the optimal design over the entire horizontal section of the Puffin North East 1 structure.

 

[LifeisShort]

Puffin-8 Strikes Oil
Drilling Progress Report No 6
Puffin-8 has penetrated the first of three mapped highs (refer to figure below), encountering the top of the oil bearing LK1a reservoir at 2022.8 metres True Vertical Depth (TVD), approximately one metre higher than at Puffin-7. The well has subsequently drilled on a nearly horizontal trajectory, 9 degrees from vertical, covering an oil bearing interval of more than 73 metres to date, measured along the well. An initial penetration was made as a “pilot hole”, which was used to better delineate the mapped structure. Accordingly, the present well trajectory will be referred to as Puffin-8 ST1.
Upon completing the drilling of the first high, the planned well track is expected to encounter a small mapped low, similar to Puffin-7, before penetrating the second of three mapped highs, with additional mapped oil bearing formation. The third high targeted is north of the oil bearing Puffin-1 well.
Puffin North East Depth Map, April 2007
Subsequent to finalizing all drilling, the well will be completed with the optimal design over the entire horizontal section of the Puffin North East 1 structure.

NWE is not involved in this one is it? Its 100% AED owned i believe. Please correct me if I'm wrong

 

[Serpie]

NWE receive a 1.25% royalty over the Puffin field.
Have a look at NWE's website - there's a good summary from Carmichaels there.
Cheers
Serpie

 

[djones]

This Puffin news is great for NWE, i wonder if the capper can hold it down today, hopefully breaks 20c if enough people have seen AEDs announcement! Wish NWE would announce there announcement as well!

 

[chops_a_must]

This Puffin news is great for NWE, i wonder if the capper can hold it down today, hopefully breaks 20c if enough people have seen AEDs announcement! Wish NWE would announce there announcement as well!

Possibly happening with AED as well?

Crazy, considering now we know the oil IS actually down there, as expected and potentially better than expected.

People are getting an absolute bargain with AED and NWE this morning.

 

[Sean K]

Could almost move this to potential breakout thread. I'm not too sure about the capping conspiracy theory, but it does now look to be making headway towards .195 and potential break up from short term consolidation between .17 and 19. 17 ish has firmed as pretty good support here.

Perhaps the next Puffin 8 news could take it through? If it's good.

 

[chops_a_must]

Strange beast, the market. Getting hammered right now. I thought the ann was good. But it seems like there is a little confusion in the announcements though, as I pointed out in the AED thread.

I guess what people are failing to realise right now is that Puffin 8 was never really factored into either AED's or NWE's share price. The next announcement will either put a rocket under both stocks, or continue both of the slides. They are strange stocks to be reading right now though.

 

[LifeisShort]

Strange beast, the market. Getting hammered right now. I thought the ann was good. But it seems like there is a little confusion in the announcements though, as I pointed out in the AED thread.

I guess what people are failing to realise right now is that Puffin 8 was never really factored into either AED's or NWE's share price. The next announcement will either put a rocket under both stocks, or continue both of the slides. They are strange stocks to be reading right now though.

The drop in share price can be attributed to one investor dropping a 1.4 million shares on market.......it cleaned out all 19c & 18.5c buyers

 

[spottygoose]

Thanks to Bazza from SS for the following:

from upstreamonline.com

AED gears up for Puffin production

By Upstream staff


Australia's AED Oil has said it expects to start production at the Puffin North West field off northwestern Australia at around 30,000 barrels per day in July and plans to drill three appraisal wells at Puffin South West to confirm reserve levels there by the end of the year.

The floating production, storage and offloading vessel Front Puffin is expected to commence sea trials by early June, while work is progressing on a sub-sea installation and a manifold for two development wells at Puffin North East, AED’s managing director Ken Tregonning said.

Reserves in Puffin NW currently total 40 million barrels, with oil-in-place at Puffin SW assessed at 65 million barrels with expectations that comparable recoveries of 45% to 70% will be achieved there.

"We are looking at a target of 100 million barrels of reserves by the middle of 2008," Tregonning told Platts, noting that six more significant prospects needed to be drilled.

One of these, Tadpole-Frog, could potentially be larger than the Puffin discoveries, he said.

A number of different options are being assessed for development of Puffin SW, including a tie-back to Puffin NE, about 10 kilometres away, depending on recoverable reserves.

The best case scenario is a standalone development based on the proving up of high recovery levels, Trengonning said.

Meanwhile, AED's chairman David Dix told Platts that corporate activity would be totally focused on Puffin and the surrounding area for another three to five years before the company looks to Asia for further growth.

 

[Sean K]

Some good news for NWE. Puffin 8 flow testing confirms similar flow rates and oil characteristics to Puffin 7. Hopefully we see some flow through to NWE, in a vortex between .175 and .185......

 

[spottygoose]

That is awesome news - can't wait for opening tomorrow. Hopefully this news will kick the SP right out of it's vortex! It appears nwe is being held back by accumulators or traders playing the 1c game. Soon, like the oil, it might be too difficult to hold back. Good luck all.