NWE - Norwest Energy

[spottygoose]

Announcement:

Norwest provides reference to an ASX announcement dated 12th October 2007,
released by the Puffin Oilfield operator, AED Oil Limited, as attached.
Norwest has a 1.25% over-riding royalty interest in the Puffin Field and the AC/P22
permit. Production from Puffin is a huge achievement for AED, and Norwest
congratulates them on their success.
The royalty to be received by Norwest from the Puffin field will make a significant
impact on the Company’s finances going forward and will allow it to seek out and
acquire advanced exploration and/or production opportunities to add to its already
sound and diverse exploration portfolio.

 

[jtb]

A more jaded man then me would suggest someone had an idea about the puffin update ann' that has juts been released after close

Can't read it yet so I hope I'm wrong.

 

[spottygoose]

Had an idea from reading AED's released earlier in the day you mean??

NWE have issued the exact update as last time - verbatim and not marked price sensitive, at least they are consistent lol.

 

[powerkoala]

production cut on puffin sounds negatif to the market, on the RED hammering day as well means double disaster.
but i can't understand why NWE got hammered more than AED today, while AED sp rise more than NWE on the good news?

 

[sfx]

NWE have issued the exact update as last time - verbatim and not marked price sensitive, at least they are consistent lol.

I guess its not marked as market sensitive, as AED already made an announcement to the market earlier ?!?

I think there's a lot more nervous people on NWE than AED, as I think we're all scrambling to back bet a winner before the 'no bets are called'. <ie, looking at this from a BlackJack point-of-view>

Time will tell if we get a payout I guess - dependant upon the accounts...

 

[sfx]

Anyone know when NWE is going to get their act together, get off the back of AED/Puffin, and start developing some of their own prospects?!

 

[chops_a_must]

Anyone know when NWE is going to get their act together, get off the back of AED/Puffin, and start developing some of their own prospects?!

Early next year with Cobra and some other huge targets I believe. At the moment, they are looking very attractive to me for another entry.

 

[jtb]

Early next year with Cobra and some other huge targets I believe. At the moment, they are looking very attractive to me for another entry.

Morning all,

Interesting overlay, showing NWE in lockstep with AED due to ORR @ Puffin.
Bounder / Cobra should be announced any day now and we know the gas is there
Seems oversold with jing' cash, COH etc and ready for a bounce imo?
Finger on the trigger (still hurting from my girlyman stop on AED the other day though)

Doc or anybody got any views?

 

[scuffler]

Things are starting to look a little better today hitting 17cents.
I am thinking that the 20's again arent that far away.

AED. The oil is there, the production problems are going to get sorted and the wuicker the better as oil is over $100.
Manuel on the drill and Cobra around the corner.

Time to spec buy if u dare.

 

[scuffler]

Positive green stock on a rubbish day!

Been an interesting few months....no good for my heart and grey hairs! lol

Lets hope we can break the 20 cent barrier.

 

[jtb]

Positive green stock on a rubbish day!

Been an interesting few months....no good for my heart and grey hairs! lol

Lets hope we can break the 20 cent barrier.

13c did seem a little silly though didn't it

I'm out again in this sporadic market but glad to see the interest building

 

[AussiePaul72]

I agree Scuffler - it was a very positive day for NWE on a poor day. I jumped on board at an average buy in of 16.8c and the day finished very well. Buyers outnumbering sellers nicely at about 2:1 and volume 5.5:1, so hopefully SP will push higher in the near future

Positive green stock on a rubbish day!

Been an interesting few months....no good for my heart and grey hairs! lol

Lets hope we can break the 20 cent barrier.

 

[oldblue]

Great news today from AED!

NWE's ORR cash will start flowing again. Looking for the SP to move ahead next week.

 

[Sprinter79]

Something's going on with this one today... up 18% (3.5c) with no announcement. Hadn't done anything for a while really, so there must be something in the wings. Maybe someone on here can shed some light...

 

[spottygoose]

Encore is drilling Cobra with royalty to NWE guess some good news may have leaked. I think this is just the beginning of the re-rating of NWE so keep an eye on it.

 

[oldblue]

Encore is drilling Cobra with royalty to NWE guess some good news may have leaked. I think this is just the beginning of the re-rating of NWE so keep an eye on it.

NWE have a 50% working interest in Cobra so the outcome is of more than just passing interest. A good result here and progress with the Puffin remediation would do a lot for the SP.

 

[oldblue]

NWE have a 50% working interest in Cobra so the outcome is of more than just passing interest. A good result here and progress with the Puffin remediation would do a lot for the SP.

Uh.. oh.
I've just seen another source that says that NWE has a 22.5% interest in Cobra.
The " 50% working interest" came from what I thought was the NWE website so I'll attempt to clarify this. Either way, its a meaningful interest!

 

[oldblue]

Company has announced that Cobra has reached its total measured depth and that testing is proceeding.
Interest is confirmed at 22.5%, despite company website showing out of date information at " 50% working interest."

 

[spottygoose]

Company has announced that Cobra has reached its total measured depth and that testing is proceeding.
Interest is confirmed at 22.5%, despite company website showing out of date information at " 50% working interest."

Thanks Oldblue. 50% would have been really nice however still very happy with 22.5%. We should see some decent interest in this tomorrow on the back of the Cobra announcement. Good luck to all.

 

[lizardlegs]

what has happened to NWE? It has fallen off a cliff since the Cobra announcement. If Cobra does not provide commercial flow of gas unstimulated, how long does it take to further evaluate the prospects by stimulating the well? Any info or opinions would be appreciated.
cheers lizardleg