NWE - Norwest Energy

[chops_a_must]

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......

Well, it's formed a pretty impressive base at .175 and .18 lol. Volume has really really dried up without any downward momentum. So, if this doesn't break out this time, I'm not sure it ever will.

I think a whole lot of options come online for AED later this week, so it's going to be interesting to see the reactions of both of the share prices over this week because of that.

It seems a lot of people have got out of AED and NWE over the last month or two without any seeming impact on the SP. What will be interesting to see is how fast both of them rise as people try to get back in...

Patiently holding both AED and NWE lol.

 

[chops_a_must]

Flow testing for Puffin-8 is out.

It reads very similarly to the Puffin-7 testing. Good outcome. Better start moving both of the share prices. As of yet, no interest today in NWE which seems silly.

 

[spottygoose]

Today's AED ann. The news gets better and better for NWE. Seriously, when is the market going to wake up??

Puffin-8 Flowtest Supports 15–20,000 stb/d Production Expectation
The Puffin-8 production well has been flow-tested at an estimated maximum rate of 11,660
stock tank barrels per day (stb/d) on a 52/64” choke, with a flowing wellhead pressure of 651
psig. The measured crude gravity is approximately 44o API, consistent with Puffin-5 and
Puffin-7. The oil flowrate was limited by testing equipment deployed on the drilling rig and
calculations show that the well is capable of flowing at a stabilised rate of 15-20,000 stb/d,
very similar to the Puffin-7 well. The Puffin-8 well performance is considered another
excellent outcome.
The well was tested at various rates over a period of 27 hours, during which time Base
Sediment and Water (BSW) quickly reached negligible levels, i.e. less than 0.1%. The well
was initially tested by passing the well stream through the separator, reaching a maximum
stabilised separator rate of around 9,000 bopd on a 44/64’ choke (8,480 stb/d). At higher
choke settings the well stream had to bypass the separator, hence no direct rate
measurement was possible. Rates at higher choke settings were determined through an
equation established between flowrates and choke sizes at lower rates. The well was
successively tested at rates of 3,570 stb/d (28/64” choke) and 5,770 stb/d (36/64”) through
the separator, and when bypassing the separator at 8,460 stb/d (44/64”), 10,010 stb/d
(48/64”), culminating in 11,660 stb/d on a 52/64” choke.
Reservoir appraisal by this well and subsequent reservoir simulation has also confirmed that
the Puffin-8 well will be draining additional reserves to Puffin-7. As the second well in the
development, Puffin-8 will give additional security of production.

 

[Dukey]

Have just scanned back through this whole thread - it's truly bizarre how the SP has failed to respond to news as has been announced since early in the year and again with puffin 8!!!?????????

Couple of possibilities come to mind...
1. back in late 2000 - NWE peaked around 40c and plummeted to around 5c over space of a few months. I have no idea what happened - but is it possible some folks have been waiting (im)patiently that long to 'save' their investment. - and have been finally cashing in the last month or two??

2. General market sentiment. Many people are a bit fearful just at the moment - after May last year & with the US housing situation etc. I was planning on keeping my last bit of cash for a couple more weeks to see what happens in May and potentially find some bargains -
BUT - this looks too good to be true!! And I think any market driven correction would be very temporary.

So...I'm goin' in lads & lasses..... cover me..... cover me...

just a small parcel :

 

[chops_a_must]

Couldn't stare a gift horse in the mouth hey Dukey?

I think it has limited down side from here (the base at 17.7 and 18 looks like a great floor) and with volume picking up, taking out lines at a time, (19 cleared out with a big bid) you might have got in at exactly the right time. Hopefully if most of the resistance can be taken out this arvo, we will have a strong breakout tomorrow.

Cheers,
Chops.

 

[Dukey]

Couldn't stare a gift horse in the mouth hey Dukey?

I think it has limited down side from here (the base at 17.7 and 18 looks like a great floor) and with volume picking up, taking out lines at a time, (19 cleared out with a big bid) you might have got in at exactly the right time. Hopefully if most of the resistance can be taken out this arvo, we will have a strong breakout tomorrow.

Cheers,
Chops.

Yep - I'd post something short and sweet like 'You got it!!' chops - but then my post would be tooooo short!!!!!!
and a galloping gift horse is exactly what I hope NWE becomes !!
I agree nice base around 18c or just below.
Somethings gotta give sometime... soon...

 

[spottygoose]

Awesome close - the big money moved in right on the bell and wiped out .195. Tomorrow should see us hit the 20's (and about time too). Heard elsewhere that DJ Carmichaels will be upgrading their target to 40c+ some media coverage for nwe vicariuosly through AED would be nice about now too. Good luck to all!!

 

[Sean K]

I've pasted this up as a potential breakout if anyone's interested. Hmmm, might as well just put it here!

 

[chops_a_must]

Awesome close - the big money moved in right on the bell and wiped out .195. Tomorrow should see us hit the 20's (and about time too). Heard elsewhere that DJ Carmichaels will be upgrading their target to 40c+ some media coverage for nwe vicariuosly through AED would be nice about now too. Good luck to all!!

What a pleasant coming home present this was this arvo. As expected, the smart and big money moved in, taking lines out from off the screen. It has had a very long consolidation, so this move is likely to be very strong. It might be an absolute s*!tfight tomorrow morning to get these. I wouldn't be surprised if they gap up significantly on open.

Spotty... what is to say AED will be in the media?

And Dukey, perfect timing mate. Lol! I hope you don't regret it.

Cheers,
Chops.

(holding NWE and AED)

P.S. - how on Earth was that flow testing announcement not price sensitive?

 

[spottygoose]

Sorry Chops, I think that message needed some punctuation. Not expecting media coverage as such..just hoping AED garners some attention in the papers and that NWE will get noticed even more.

 

[stupid]

I've pasted this up as a potential breakout if anyone's interested. Hmmm, might as well just put it here!

kennas, can you explain from the chart why there might be a breakout ???
I am a bit slow. Much appreciated.
Thanks.

 

[Sean K]

kennas, can you explain from the chart why there might be a breakout ???
I am a bit slow. Much appreciated.
Thanks.

Might be about to break through resistance at .195, and the indicators combined say momentum is up. Last 2 trading days were bullish candles, especially big white candle today. Only a probability though, these things are never exact.

 

[nizar]

kennas, can you explain from the chart why there might be a breakout ???
I am a bit slow. Much appreciated.
Thanks.

In my opinion, this hasnt broken out yet.
Needs to close at or above 20c and a bit of volume would be nice.

 

[stupid]

Might be about to break through resistance at .195, and the indicators combined say momentum is up. Last 2 trading days were bullish candles, especially big white candle today. Only a probability though, these things are never exact.

Understand now. Thanks Kennas. May I ask what software you are using, is it incrediblecharts, futuresource, amibroker, etc... ???

 

[svensk]

In my opinion, this hasnt broken out yet.
Needs to close at or above 20c and a bit of volume would be nice.

Agreed. I think 0.195 provides solid resistance, and if it breaks above it on good volume, things should go very well. Note I said should

 

[nizar]

Well i got in today at .205 around lunch time thinking that there would be an arvo run.
Still plenty of sellers in this, but i feel maybe it just gapped up 2 high and thats the reason that the momentum could not be sustained.
A bit frustrating - a white candle wouldve looked so much better on the charts.

Nevertheless, stop is set wide at 17c, strong support at 17.5,

Could still be a goer. MPO failed several times at breaking out, but it was worth the wait with that one

 

[svensk]

To be honest, today was disappointing. I expected a higher close, a nice juicy white candle perhaps. It never happened. Struggled to take off several times.

Tomorrow will be interesting.

 

[nizar]

To be honest, today was disappointing. I expected a higher close, a nice juicy white candle perhaps. It never happened. Struggled to take off several times.

Tomorrow will be interesting.

Needs a white candle 2mrw and a higher high than 21c.
This will confirm the breakout.
Please NWE, please.

 

[Sean K]

To be honest, today was disappointing. I expected a higher close, a nice juicy white candle perhaps. It never happened. Struggled to take off several times.

Tomorrow will be interesting.

Yep, disappointed here too. A clear break across .195 with a gap up was very promising and didn't really follow through. I thought jumping .20 was a significant move. Volume was still pretty good though. One positive, was that it tested .20 several times and each time spiked off it, so there were really only a few trades at that level. Most of the action was at .205 and .21. VWAP was .20634, so it's close didn't really do it credit today. I'd be happy if it tested .20 again and made that support for further gains.

 

[chops_a_must]

To be honest, today was disappointing. I expected a higher close, a nice juicy white candle perhaps. It never happened. Struggled to take off several times.

Tomorrow will be interesting.

It was kind of to me as well, although it certainly does have some hope. There are a couple of reasons for this I think. It looked to me as if it was being scalped... as has happened quite clearly to MPO. And secondly, it gapped up through its daily R3 pivot point of .208 and finished close to the R2 pivot point.

It has already gone way ahead of the weekly R3, and the monthly R3 is at .212.

Just mucking around with these really, but, .21 looks like it might be a bit of a cluster point. Pivots for tomorrow, S1: .196, Pivot: .203, R1: .206, R2: .213, R3: .216. It has been running between the R2 and R3 points this month... so... if it can clear the R3 monthly of .212, and finish at .215, it will be interesting to see if it can pick up speed then.

Cheers,
Chops.

Also... the percentages aren't that different to what AED has done over the last few days. NWE has a tendency to lag any moves by 10 minutes or so, but if AED goes on another ball tearing run (which looks very likely), it should really help NWE through any resistance.