Thanks to Ead83 for his summary:
Good presentation, i can understand why its rocketing today!
In a nutshell:
Current Market Cap: ~$50 million (yesterday's close)
Cash: $7.8 million
Income
- Forecast Short Term Revenue from Puffin(AC/P22, Timor Sea): $70+ million based on identified reserves with potential upside from undrilled prospects. Zero expenditure for NWE based on 1.25% ORR
- Income from Jingemia: $1 million p.a. Operated by ARQ with further exploration upside
Assets
- 24.1% in AC/P32 (Timor Sea); 3d seismic data already acquired, drilling early 2008, operator Coogee Resources, BPCL as partner, possible farmdown to free-carry
- 25% 48/1b&2c (offshore UK); reserves to 95 BCF upside to 450 BCF, existing 3d seismic data, possible drilling in 2007, farmed out to BPCL/Tata for covering up to USD $23 million in drilling costs, Norwest costs minimal.
-25% of 3 blocks in Inner Moray Firth region, 50% of 2 blocks in Southern Gas Basin (UK offshore)
Business Development
- India office a great success securing MOU's with giant companies; BPCL, TATA etc.
- Joint bids with strategic partners for projects on a global scale.
- High emphasis on adding value through farmout of existing assets to partners, and maintaining a superior ROI.
- Very strong board, with vast experience in most major regions in the world.
- Many projects where Norwest can 'punch above its weight' in terms of leverage, due to miniscule drilling costs post farm-out.