Yep, I saw that. There's been a few largish trades today for a minow. Not sure what that means. AED is up 7% on what is probably Puffin related. I wish NWE was following in proportion. Looks to be a clear break from the 3 months of sideways trend now, although day's not over. Just finishing above 20 again will do me.There are some big off screen buys happening right at the moment. Will be looking for a very strong finish. Hopefull at .215 or above.
We finally might be seeing this one go...
Off screen buys are from "on-market" function trades. They aren't coming from the depth, so a buy from off screen will take away the selling depth without altering the buying depth. The opposite is true of off screen sellers.Maybe a stupid question but how can you "see"off screen buys.I use comsec so presume you are using some other platform
A few months ago, you could have had all you wanted at 0.12. There's no need to get yourself concerned over 0.5c here and there. The market is only beginning to discover the value of Puffin.
The FPSO will arrive the end of the month, so expect to see cash begin to flow in to NWE come June or July. DJC has what I believe to be a very conservative valuation out on NWE at around 40c.
NWE is a great story, something every e&p junior will want to emulate. They are within a whisker of a strong cash flow which will enable them to self-fund exploration. No more dilution for shareholders (well - aside from option exercisae) and the ability to take more meaningful stakes in prospective fields.
Very few other junior oilers with a market cap as small as NWE can say the same.
Nup, but from memory, it looks like their new round of exploration begins at the end of May, which could well be a bit of a kicker.Any 12-month targets out there?
I'm surprised no-one has spoken of this stock today. Looks to be on a very big move with the sell side looking incredibly thin.
And about bludy time! Lol.
Oh Yeeeesssss- very nice indeed to smash through previous highs and close on 23.5c - & pretty good volume to boot - (4.7 mill)
Are we expecting an oil resource update after Puffin 8 flow test?? or does P8 just confirm previous estimates?? Maybe there's something in the wind.....
Twill be interesting to see what tomorrow brings - more of the same??? - would be nice. Whatever happens, I get the feeling we won't see NWE back down below 20c again....
Sorry Nizar dont agree this one has been manipulated by players for to long i feel the game is up AED is racing to new highs with good foundation ..........and the new blood in NWE,s registrey over the last few weeks will see this one steadily climb to29> 30cents and then level till puffin comes on line IMO .........moving nicley atm NWE the word is out on this one no holding it back now good fortune to all holders
Happy Days
Mobcat
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.
Why bother with stops now Nizar if she goes neg stops wont save you with the momentum NWE has now to much new blood imo............. full steam ahead to first oil imo
Happy Days
Mobcat
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