NWE 7.69% 0.6¢ norwest energy nl

good oil conference

  1. 1,747 Posts.
    It's worth a look at NWE's website at http://www.norwestenergy.com.au/ to consider the slides which Ivan Burgess presented to the Good Oil Conference yesterday.

    NWE have a very prospective group of leases together with production at Jingemia and the very high probibility of production at Cliff Head. Even in these early days, NWE expect to receive some 1.5mbls from CH. this equates to a current valuation of $15 m for the in ground oil in CH or twice the current market valuation of the company. More drilling will most likely prove up more reserves.

    It looks a very smart move to hold a few NWE shares for the day when CH is either developed or sold,let alone the great future in the current leases as the next drilling program gets under way.

    Regards M.
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