NWE - Norwest Energy
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Got up to 15c on 5m volume!
Hmmmm I knew it was only a matter of time,
Has to be a Puffin Upgrade, both NWE and AED are running
Toc see below, currently Puffin Fields NPV is worth 15c to NWE, I know 1.25% Royalty seems tiny, but NWE is tiny when compared to $1Billion+ AED
So basically NWE is worth 15c on Puffin, if theres any new discoveries at Puffin which would seem obvious given AED's run, its worth to NWE increases, assum a 50% increase in discovery at Puffin, it would then be worth 22c to NWE and thats ignoring all of its other projects
Hmmmm I knew it was only a matter of time,
Has to be a Puffin Upgrade, both NWE and AED are running
Toc see below, currently Puffin Fields NPV is worth 15c to NWE, I know 1.25% Royalty seems tiny, but NWE is tiny when compared to $1Billion+ AED
So basically NWE is worth 15c on Puffin, if theres any new discoveries at Puffin which would seem obvious given AED's run, its worth to NWE increases, assum a 50% increase in discovery at Puffin, it would then be worth 22c to NWE and thats ignoring all of its other projects
YOUNG_TRADER said:
Might have something to do with this article in the press in England. Interesting the company hasnt said anything.
BPCL to pick up 25% in North Sea blocks
CUCKOO PAUL
TIMES NEWS NETWORK[ WEDNESDAY, DECEMBER 20, 2006 02:46:52 AM]
MUMBAI: Bharat Petroleum (BPCL) will pick up a 25% participating interest in blocks 48 1B and 2C in the Southern gas basin of the North Sea.
The company joins a consortium led by Australian firm Encore Oil and UK company Norwest for a consideration of about Rs 55 crore, sources close to developments said. The move will give the Indian oil major exposure to near term drilling opportunities in the region, which is among the most explored in the world.
The blocks are in close proximity to a number of producing gas fields and their associated infrastructure makes even moderate gas reserves very commercial, the sources said. The North Sea contains the majority of Europe’s oil reserves and is one of the largest non-OPEC producing regions in the world.
While most reserves lie beneath waters belonging to the UK and Norway, some fields belong to Denmark, the Netherlands and Germany. To take forward its interest in prospecting for oil and gas, BPCL has recently formed an upstream subsidiary Bharat Petro Resources with an authorised capital of Rs 1,000 crore.
Speaking to the media after the annual general meeting, BPCL chairman Ashok Sinha said the company has committed to spend Rs 600 crore in four blocks in India and two abroad. It is willing to increase this exposure to Rs 4,000 crore, if and when there is a discovery.
In India, the company has five blocks, of which two are in deep waters and three on land. Most were acquired in NELP 4 and are in partnership with ONGC and OIL. Prospecting for oil and gas, once the exclusive domain of ONGC and OIL, is now being tried by all three oil refining and marketing companies ””IOC, HPCL and BPCL.
Apart from the North Sea interest, BPCL also recently took up a 20% stake in the Australian northwest shelf in the Timor sea. It is now part of a consortium operated by Coogee (30.8%), Nortwest (24.1%), Bounty Oil (12.8%) and Adelphi oil (18.4%). Drilling is likely to begin in both the blocks in 2007.
Exploration in the North Sea, a declining field, is now a story of pushing the edges of the technology in terms of maximising production, oil industry sources said. Production fell 12.8% in 2005 leading to Britain becoming a net importer of crude for the first time in decades.
The two blocks 48/1b and 48/2c were awarded in the 22nd Licensing Round as a promoter licence. They contain contain the 48/2-1 gas discovery which was drilled in 1984 and tested 2.7 million cubic feet per day.
PM
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BPCL to pick up 25% in North Sea blocks
CUCKOO PAUL
TIMES NEWS NETWORK[ WEDNESDAY, DECEMBER 20, 2006 02:46:52 AM]
MUMBAI: Bharat Petroleum (BPCL) will pick up a 25% participating interest in blocks 48 1B and 2C in the Southern gas basin of the North Sea.
The company joins a consortium led by Australian firm Encore Oil and UK company Norwest for a consideration of about Rs 55 crore, sources close to developments said. The move will give the Indian oil major exposure to near term drilling opportunities in the region, which is among the most explored in the world.
The blocks are in close proximity to a number of producing gas fields and their associated infrastructure makes even moderate gas reserves very commercial, the sources said. The North Sea contains the majority of Europe’s oil reserves and is one of the largest non-OPEC producing regions in the world.
While most reserves lie beneath waters belonging to the UK and Norway, some fields belong to Denmark, the Netherlands and Germany. To take forward its interest in prospecting for oil and gas, BPCL has recently formed an upstream subsidiary Bharat Petro Resources with an authorised capital of Rs 1,000 crore.
Speaking to the media after the annual general meeting, BPCL chairman Ashok Sinha said the company has committed to spend Rs 600 crore in four blocks in India and two abroad. It is willing to increase this exposure to Rs 4,000 crore, if and when there is a discovery.
In India, the company has five blocks, of which two are in deep waters and three on land. Most were acquired in NELP 4 and are in partnership with ONGC and OIL. Prospecting for oil and gas, once the exclusive domain of ONGC and OIL, is now being tried by all three oil refining and marketing companies ””IOC, HPCL and BPCL.
Apart from the North Sea interest, BPCL also recently took up a 20% stake in the Australian northwest shelf in the Timor sea. It is now part of a consortium operated by Coogee (30.8%), Nortwest (24.1%), Bounty Oil (12.8%) and Adelphi oil (18.4%). Drilling is likely to begin in both the blocks in 2007.
Exploration in the North Sea, a declining field, is now a story of pushing the edges of the technology in terms of maximising production, oil industry sources said. Production fell 12.8% in 2005 leading to Britain becoming a net importer of crude for the first time in decades.
The two blocks 48/1b and 48/2c were awarded in the 22nd Licensing Round as a promoter licence. They contain contain the 48/2-1 gas discovery which was drilled in 1984 and tested 2.7 million cubic feet per day.
PM
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Very interesting Blue, thanks for that,
That would explain current pick up,
Did you also know that the JV with the Indian Oiler is Bharat Petroleum?
Agreement for Cooperation in World Wide Exploration
Norwest Energy has signed an “Agreement on Areas of Mutual Interest” with
Bharat Petroleum Corporation Limited (BPCL), under which the two
companies will work together to pursue international upstream oil and gas
opportunities. Under the agreement Norwest will act as a Project Leader to
identify opportunities and areas for joint exploration, appraisal and
development.
So sounds like Bharat is getting ready to do some work in both North Sea UK where NWE has licences and Timor Sea, which has worked wonders for AED,
I still think though that there maybe something in the wind for NWE re Puffin Field with AED, as AED has run from $3.30 to now $4.60+, has to be something to do with its Puffin Field,
Interesting times ahead
That would explain current pick up,
Did you also know that the JV with the Indian Oiler is Bharat Petroleum?
Agreement for Cooperation in World Wide Exploration
Norwest Energy has signed an “Agreement on Areas of Mutual Interest” with
Bharat Petroleum Corporation Limited (BPCL), under which the two
companies will work together to pursue international upstream oil and gas
opportunities. Under the agreement Norwest will act as a Project Leader to
identify opportunities and areas for joint exploration, appraisal and
development.
So sounds like Bharat is getting ready to do some work in both North Sea UK where NWE has licences and Timor Sea, which has worked wonders for AED,
I still think though that there maybe something in the wind for NWE re Puffin Field with AED, as AED has run from $3.30 to now $4.60+, has to be something to do with its Puffin Field,
Interesting times ahead
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Surprised this hasn't attracted a few comments,
Was 11.5-12c a few days ago, got up 30%+ on good volume, closed at 14c,
Volume was about 10x usual
Can't wait for ann to see if its this Indian JV, or new Discovery at Puffin
Was 11.5-12c a few days ago, got up 30%+ on good volume, closed at 14c,
Volume was about 10x usual
Can't wait for ann to see if its this Indian JV, or new Discovery at Puffin
Sean K
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Yeah, I've been watching YT. I'm holding and now, waiting for break through $0.14 to pick some more up, almost there. Was very hopeful yesterdays great start would turn into a run, which it may still be. Trending up at the moment, even without the connection with AED/Puffin being really identified IMO. Looking ok at the moment.
Most resistance at $0.15 by the look, then pockets on the way to $0.22. Maybe some support around $0.13 ish now that it's broken through there.
Perhaps the vol increase is the signal it's being linked?? What do you think?
Most resistance at $0.15 by the look, then pockets on the way to $0.22. Maybe some support around $0.13 ish now that it's broken through there.
Perhaps the vol increase is the signal it's being linked?? What do you think?
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I think most of yesterdays price action was in relation to the Indian JV, I reckon they'll stump up the funds to drill in North Sea UK,
But I also think most of the Market has missed the AED/NWE connection
Given Puffins current NPV to NWE is 15c, then buying up to 15c means you pay 0 for all of its other assets
Also lots of large 1m+ buy orders going through yesterday and 1 today, reminds me of EVE type hoarding before the run!
But I also think most of the Market has missed the AED/NWE connection
Given Puffins current NPV to NWE is 15c, then buying up to 15c means you pay 0 for all of its other assets
Also lots of large 1m+ buy orders going through yesterday and 1 today, reminds me of EVE type hoarding before the run!
hmmm funny i said the same thing about the ede / tas connection but hasnt been truly reflected in the sp, yet.YOUNG_TRADER said:
Anyrate bought these back at 14 cents awaiting the market to reevaluate its potential and the prospect of a further increase in aed's reserves and royalties payable.
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Managed to get some more at 12.5c yum yum
This is directly off their web page
"The Puffin Oilfield development in AC/P22, where Norwest has a 1.25% over-riding royalty, has been generating a lot of interest.
This royalty is potentially worth $10 to 40 million dollars to Norwest over the field life, with production scheduled to start in 2007."
Puffin NPV to NWE
$10m = 5c
$20m = 10c
$30m = 15c
$40m = 20c
Given the way AED has been running most are speculating at an increase in oil at Puffin due to new discovery of some sort, hints have been anywhere from another 50% to another 150%
Either way Puffins current NPV underwrites the current NWE SP which means your getting the spec increase at Puffin for free,
Not to mention the fact that from a few posts back Blues identified that BPCL (the Indian JV partner had already farmed in to NWE's UK Licence, heres another article on it
BPCL to buy stake in North Sea
NEW DELHI, Dec. 22 State-run Bharat Petroleum Corp. Ltd. says it will pick up 25 percent participating interest in the southern gas basin of the North Sea.
The oil major joined a consortium led by Australian firm Encore Oil and U.K. company Norwest for consideration of about $20 million.
The move will give the Indian oil major exposure to near-term drilling opportunities in the region, which is among the most explored in the world, said a company spokesman. He said the block 48 1B and 2C are in proximity to a number of gas-producing fields and their associated infrastructure makes even moderate gas reserves very commercial, The Economic Times newspaper reported Friday.
The North Sea contains the majority of Europe's oil reserves and is one of the largest non-OPEC producing regions in the world.
While most of the reserves lie beneath waters belonging to the U.K. and Norway, some fields belong to Denmark, the Netherlands and Germany, a local media report said.
To take forward its interest in prospecting for oil and gas, BPCL has formed an upstream subsidiary, Bharat Petro Resources, with an authorized capital of $220 million, it said.
The company has committed $114 million in four blocks in India and two abroad. It is willing to increase this exposure to $880 million, if and when there is a discovery, said Ashok Sinha, the chairman of BPCL. Sinha said that in India the company has five blocks, of which two are deepwater and three inland.
UK Licence value to NWE
So BPCL is about to pay $20m US or $25m AUD for a 25% interest in these UK Blocks, previosly NWE and Encore held the blocks 50:50 so I'm assuming they both gave 12.5% to BPCL, thus interest would now be NWE 37.5% Encore 37.5% BPCL 25%,
Thus NWE's 37.5% interest is worth more than $25m AUD given the farm in deal = another 12.5c value to NWE
Total Attributable value to NWE
Take mid case value for Puffin (ie $10m - $40m) Mid case = $25m
Add farm in value of UK licence = $25m
Total = $50m = 25c NWE
And this is all without taking into consideration the possible new discovery at Puffin that has AED surging!
This is directly off their web page
"The Puffin Oilfield development in AC/P22, where Norwest has a 1.25% over-riding royalty, has been generating a lot of interest.
This royalty is potentially worth $10 to 40 million dollars to Norwest over the field life, with production scheduled to start in 2007."
Puffin NPV to NWE
$10m = 5c
$20m = 10c
$30m = 15c
$40m = 20c
Given the way AED has been running most are speculating at an increase in oil at Puffin due to new discovery of some sort, hints have been anywhere from another 50% to another 150%
Either way Puffins current NPV underwrites the current NWE SP which means your getting the spec increase at Puffin for free,
Not to mention the fact that from a few posts back Blues identified that BPCL (the Indian JV partner had already farmed in to NWE's UK Licence, heres another article on it
BPCL to buy stake in North Sea
NEW DELHI, Dec. 22 State-run Bharat Petroleum Corp. Ltd. says it will pick up 25 percent participating interest in the southern gas basin of the North Sea.
The oil major joined a consortium led by Australian firm Encore Oil and U.K. company Norwest for consideration of about $20 million.
The move will give the Indian oil major exposure to near-term drilling opportunities in the region, which is among the most explored in the world, said a company spokesman. He said the block 48 1B and 2C are in proximity to a number of gas-producing fields and their associated infrastructure makes even moderate gas reserves very commercial, The Economic Times newspaper reported Friday.
The North Sea contains the majority of Europe's oil reserves and is one of the largest non-OPEC producing regions in the world.
While most of the reserves lie beneath waters belonging to the U.K. and Norway, some fields belong to Denmark, the Netherlands and Germany, a local media report said.
To take forward its interest in prospecting for oil and gas, BPCL has formed an upstream subsidiary, Bharat Petro Resources, with an authorized capital of $220 million, it said.
The company has committed $114 million in four blocks in India and two abroad. It is willing to increase this exposure to $880 million, if and when there is a discovery, said Ashok Sinha, the chairman of BPCL. Sinha said that in India the company has five blocks, of which two are deepwater and three inland.
UK Licence value to NWE
So BPCL is about to pay $20m US or $25m AUD for a 25% interest in these UK Blocks, previosly NWE and Encore held the blocks 50:50 so I'm assuming they both gave 12.5% to BPCL, thus interest would now be NWE 37.5% Encore 37.5% BPCL 25%,
Thus NWE's 37.5% interest is worth more than $25m AUD given the farm in deal = another 12.5c value to NWE
Total Attributable value to NWE
Take mid case value for Puffin (ie $10m - $40m) Mid case = $25m
Add farm in value of UK licence = $25m
Total = $50m = 25c NWE
And this is all without taking into consideration the possible new discovery at Puffin that has AED surging!
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BPCL buys stakes in 3 blocks abroad
Rakteem Katakey / New Delhi January 07, 2007
Oil marketing company Bharat Petroleum Corporation (BPCL) has strengthened its upstream presence by acquiring stakes in three exploration oil blocks overseas.
The state-owned company has picked up 25 per cent stake each in two blocks in the North Sea and 20 per cent in another block in the Timor Sea in the Australian offshore.
“We have entered into agreements for exploration blocks with Norwest Energy. The formalities are being completed,” the downstream major’s spokesperson said.
BPCL has floated a subsidiary called Bharat Petro Resources for upstream acquisitions and operations. The company has an authorised capital of $220 million.
For the 25 per cent stake in the two blocks in the North Sea off the UK coast, BPCL will pay $12.2 million and bear 50 per cent of the cost of the exploratory well being drilled. A study carried out by Norwest indicates the presence of as much as 500 billion cubic feet of gas in the blocks.
The spokesperson said the blocks 48/1b and 2c are in proximity to a number of gas-producing fields and their associated infrastructure makes even moderate gas reserves very commercial.
The two exploration blocks were offered by the UK government to Norwest Energy and Nido Petroleum with 50 per cent participating interest each. Currently, Australian company Encore holds 50 per cent and Norwest 50 per cent in the blocks. Encore is the operator for the blocks.
“The move will give us exposure in the upstream sector in which are very interested,” the spokesperson said.
Major part of Europe’s oil and gas reserves are concentrated in the North Sea. It is one of the largest non-OPEC producing regions in the world.
In the Timor Sea, BPCL has acquired 20 per cent interest in AC/P32 block in the Browse basin from Norwest’s wholly owned subsidiary Westranch Holdings. The agreement is that the Indian company will fund the purchase and reprocessing of new 3D seismic data by paying $1.42 million. In five years, it will have the option of paying 20 per cent of the cost of the second well to be drilled in the block or withdraw from the block. If BPCL decides to stay on then it will have the option of enhancing its stake in the block to 40 per cent by taking on the burden of another 40 per cent of the cost of the second well.
Coogee is the operator for the block with 30.08 per cent stake. Westranch Holdings currently owns 30.1 per cent in the block, which has oil prospects of close to 50 million barrels.
chops_a_must
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And it's on the move YT. Up 12%. 
Sean K
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Just one trade at $0.14, so nothing to write home about yet, but positive! Would like to see volume on the close at $0.14 to confirm some support. Holding above 12 was very positive too.chops_a_must said:And it's on the move YT. Up 12%.
(holding)
Sean K
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Well, it did finish ok at day high. Lets not get excited though, it was at 15 cents a couple of weeks ago. Let's get excited when it clears 15 perhaps. Maybe that little band smilie can come out and play a tune?kennas said:
gday all i want to see this clear .15c with good volume before i get too excited because those of you that have followed closely know there is a large stake holder been selling @ .14c. i reckon he has unloaded all but i want to be certain hes done. beach
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Some large buys going through at 14c about 800k = $100k
and 14.5c about 700k = $100k
Very interesting
and 14.5c about 700k = $100k
Very interesting
Sean K
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Good day. All my indicators are lining up saying
MACD about to positively cross, going up in the BB, Stochastics going up, RSI positive. Volume not fantastic, up a little, but as stated $0.14 has been a sticking point the past week or so. Day isn't over though. Maybe reevaluate after the close...
MACD about to positively cross, going up in the BB, Stochastics going up, RSI positive. Volume not fantastic, up a little, but as stated $0.14 has been a sticking point the past week or so. Day isn't over though. Maybe reevaluate after the close...
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toc_bat said:
Reportedly NWE is waiting for official approval before releasing to the market.
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