chops_a_must
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Are you still following this one YT? Pretty conservative royalty revenue estimates don't you think?
NWE - Norwest Energy
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toc_bat said:
news alerts will send you an email whenever there is an asx annoucement or media on your chosen stocks.
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toc_bat said:
It varies - it can be as soon as 5 mins after or it can be an hour or so. It's pretty good.
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chops_a_must said:
Took profit at 17c last week as it looked like it would stall a little and it did,
I was expecting a pull back and was going to buy back in but put funds into BYR
Hopefully can get back in at or below 17c in about 2 weeks time, hopefully ann's will be delayed till then I hope!
chops_a_must
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AED says mid february for reserves of its other Puffin fields. A fair probability they will be good. I hope you can get back in before then. Cheers.
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From Petroleum News:
Norwest hits jackpot with Puffin royalty
Thursday, 1 February 2007
PERTH-based minnow Norwest Energy estimates it could earn $A33 million in cash flow as a result of its 1.25% royalty holder in AED Oil's Puffin oil field in the Timor Sea.
In its December quarterly report, the company said it based this figure on the release of AED's reserve upgrade at the P50 level of confidence in November and an average oil price of $US50 per barrel.
AED estimates the Puffin North East main area (NE1) contains 22 million barrels (MMbbl) at the P90 (90%) level of confidence, 40MMbbl at P50 and 67MMbbl at Pl0.
"In addition, AED believes the NE2 area is likely to be a commercial pool and considers the NE3 area to be an exciting prospect," Norwest said.
Also in the Vulcan Sub-basin, Norwest has nearly finalised a farm-out agreement with an Indian energy major in AC/P32, where operator Coogee Resources drilled the unsuccessful Magnolia-1 exploration well this time last year.
While Norwest yesterday referred to the farm-in partner as a "third party", earlier this month it named the company as Bharat Petroleum in response to speculation by Indian news reports.
The AC/P32 joint venture has also nearly finished interpreting its recently purchased 3D seismic dataset, which covers the entire block, and the results of which will determine the location of a commitment well.
Norwest said entry into the permit year starting May was optional for each of the JV partners, who are Australian Worldwide Exploration, Bounty Oil and Gas and Adelphi Energy.
Norwest hits jackpot with Puffin royalty
Thursday, 1 February 2007
PERTH-based minnow Norwest Energy estimates it could earn $A33 million in cash flow as a result of its 1.25% royalty holder in AED Oil's Puffin oil field in the Timor Sea.
In its December quarterly report, the company said it based this figure on the release of AED's reserve upgrade at the P50 level of confidence in November and an average oil price of $US50 per barrel.
AED estimates the Puffin North East main area (NE1) contains 22 million barrels (MMbbl) at the P90 (90%) level of confidence, 40MMbbl at P50 and 67MMbbl at Pl0.
"In addition, AED believes the NE2 area is likely to be a commercial pool and considers the NE3 area to be an exciting prospect," Norwest said.
Also in the Vulcan Sub-basin, Norwest has nearly finalised a farm-out agreement with an Indian energy major in AC/P32, where operator Coogee Resources drilled the unsuccessful Magnolia-1 exploration well this time last year.
While Norwest yesterday referred to the farm-in partner as a "third party", earlier this month it named the company as Bharat Petroleum in response to speculation by Indian news reports.
The AC/P32 joint venture has also nearly finished interpreting its recently purchased 3D seismic dataset, which covers the entire block, and the results of which will determine the location of a commitment well.
Norwest said entry into the permit year starting May was optional for each of the JV partners, who are Australian Worldwide Exploration, Bounty Oil and Gas and Adelphi Energy.
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UK DTI has announced, as part of the 24th Round, that NWE Joint Venture were awarded block 47/7 in the Southern Gas Basin under 'Promote' license status. The expenditure commitments are only to reprocess 2D seismic. (thanks to Intruder for this info.)
http://www.og.dti.gov.uk/upstream/licensin..._Offer_name.xls
http://www.og.dti.gov.uk/upstream/licensin..._Offer_name.xls
chops_a_must
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Bad link.spottygoose said:
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chops_a_must said:Bad link.
http://www.og.dti.gov.uk/upstream/licensing/24_rnd/24_Offer_name.xls
try this.
chops_a_must
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It's looking good for a potential breakout, after another run at 17.5 over the next few days. One to watch, that's for sure!
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Any thoughts on what impact the additional block being awarded will have?
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From Petroleum News:
Norwest builds its UK base
Meanwhile, Norwest Energy's subsidiary New Southern Cross was awarded a new licence in the Southern Gas Basin, next door to permit P1350 where the company has a 50% interest.
Norwest said both blocks were on trend with, and updip, of the Amethyst gas field, which has 735 billion cubic feet of reserves and has been in production since 1991.
The newly awarded Block 47/7 lies between the Easington and Dimlington gas terminals, onshore Yorkshire, and the Rough gas field now used for gas storage. As a result, up to six pipeline delivery routes cross the block, according to Norwest.
In addition, the licence is covered by a modern grid of 2D seismic data, which Norwest is obliged to reprocess and interpret within the next two years before deciding whether to drill a well in the second two-year term.
The company will hold a half-stake in the new licence in partnership with London-based Encore Oil.
Norwest chief executive Joe Salomon said his company was working to make the UK a significant part of its overall business.
"We see the UK as a good place to be doing business," he said.
"The North Sea is a mature petroleum province, the Government ensures that data is readily and very cheaply available and all indications are that there are many more discoveries yet to be made."
Norwest builds its UK base
Meanwhile, Norwest Energy's subsidiary New Southern Cross was awarded a new licence in the Southern Gas Basin, next door to permit P1350 where the company has a 50% interest.
Norwest said both blocks were on trend with, and updip, of the Amethyst gas field, which has 735 billion cubic feet of reserves and has been in production since 1991.
The newly awarded Block 47/7 lies between the Easington and Dimlington gas terminals, onshore Yorkshire, and the Rough gas field now used for gas storage. As a result, up to six pipeline delivery routes cross the block, according to Norwest.
In addition, the licence is covered by a modern grid of 2D seismic data, which Norwest is obliged to reprocess and interpret within the next two years before deciding whether to drill a well in the second two-year term.
The company will hold a half-stake in the new licence in partnership with London-based Encore Oil.
Norwest chief executive Joe Salomon said his company was working to make the UK a significant part of its overall business.
"We see the UK as a good place to be doing business," he said.
"The North Sea is a mature petroleum province, the Government ensures that data is readily and very cheaply available and all indications are that there are many more discoveries yet to be made."
chops_a_must
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Down on really low volume, considering very good news IMO.
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chops_a_must said:
Really? I thought it was crap,
NWE farmed out 20% for $2m AUD
I was dissapointed, especially after the Indian Articles touted much higher figures
chops_a_must
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It will allow it to get into production much quicker than what otherwise would have been the case. Which to me is good for a company that might not be able to afford the initial expenditure.YOUNG_TRADER said:
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