There are many buyers wanting to get set well before drilling. The buyers outnumber the sellers by a significant margin. Most hoping to buy at .003 and maybe offload for .004 or better before drilling. Personally, I think the chance of success is high and NWE provides one of the best risk/reward ratios of any Oiler on the ASX . I have given up trying to buy at .003 and have started accumulating at .004. The closer we get to drilling the firmer the price will become . In the event of a discovery , I would expect the price to move upwards in a range from .03 cents to .05 cents and further in the event that the expected market for gas wants our reserves.
NWE Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held