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NWE 0.2¢

rig on itsway to cliff head

  1. jocam9

    1,317 Posts.

    NWE announced yesterday that the Ensco 53 left Singapore on 15 Dec and was on its way to Perth. Rig is expected on site on 2 January and spud CH3 on 4 January.

    Lets hope this news sparks some interest in the Perth Basin participants because up to now it has been bloody awful with VOY the only beneficiary and perhaps for reasons other than upcomig drilling.

    Yesterday's action was particularly disappointing with AWE failing to break through resistance at 92 cents despite good press coverage and fed govt approval of Bassgas; NWE trading a pitiful 250,000 shares and BUY and HDR both down. Timing of the drilling probably doesn't help coinciding as it does with Xmas and the New Year, broker holidays etc.

    Can't believe this indifference will last, so lets see what today brings. JBC

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