wow why did you get banned? :|
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wow why did you get banned? :|
Axion,
I'll PM you, otherwise we'll start getting off topic on this thread.
Cheers
Serpie
I also managed to get myself banned from the SS site for 7 days too..... Seems my own and KB's indignation got the better of the both of us..... Probably for the best for now. Pity, I didn't see your post SC, it must've been a doozy!
Now, back on topic.
As I mentioned over there, I am in Singapore this week and am going to be meeting up with a few "people". In that regard I hope to get a good insight as to current problems on board the Puffin FPSO and progress with the MODEC MV1 conversion for AED's second FPSO.
I climbed back into NWE in a small way last week, seeing the ~10% gain already, maybe I should've got a few more.... At that point in time I thought this might stagnate around the low 20's for a week or more, as there seems to be some real market pessimism towards AED, which inherently affects NWE. Will see what the next week brings.
I do tend to agree with you Serpie, in that we are not likely to see >30c until Cobra is drilled. There has been a lot of speculation on when that might be, my thoughts are that it probably will not be until the Northern Spring, I guess we will all just have to wait for that all important announcement.
Yes back to what it is all about please, great trade, exited 100,000 today to cover the other loss making ones.
The way this market is running anything seems possible. maybe a black swan coming in from the left field.
So caution is worth remembering, even though this appears a no brainer.
I'm sitting on another 200,000
Happy hunting ;)
P.S maybe someone should start a new thread called" Banned" oh and remember Mattyroo it does not matter to NWE how much this oil costs to extract :rolleyes: It is AED's problem and I do not hold them.
The only thing that concerns NWE is AED extracts.;)
I've just been reading past NWE reports, and they seem to have been quite pleased to get out of Puffin way back in 2004, as they doubted that it would be a winner. Who knew!
Also interesting to note that Cobra is a horizontal drill. We BUR holders LOVE lateral drills! Northern spring you reckon Matty? Sooner the better, but you may be right. It scheduled for before then, but these things always seem to go over.
Good trading Tricha.
I completely understand this tricha.
What concerns me with this field is the geology. I have a fairly good understanding of previous companies looking at this field, yet they all shied away from it, due to the geology.
I had a lot to do with the Chinguetti field, and this gives me a sense of deja vu in a small way.
If AED are having extraction problems, which it appears they may well be, then no amount of wells will speed up recovery of OIL. What more wells will do is produce more liquids, but the oil / water ratio will stay the same, hence once they are receiving maximum amount of liquids the FPSO can process per day, that will be it. Also, with more wells, they produce more sand typically, shortening life cycle of process equipment, which is AED's problem.
In essence what I am trying to say is that, whilst NWE's ORR still exists and will still be provided to them, their monthly cheques will quite possibly be a bit smaller.
Thankfully they are not a one hit wonder, and hopefully we will hear very soon of developments with their other prospects.
Disc: AED, nil, NWE, a few.
Go out for a haircut and come back and the bloody share price has had a haircut as well!!!
Today's ann certainly implies some delay to the developing of the SW field.
We need that Cobra drill to happen ASAP so as the apron strings to AED can be severed, all we have to worry about then is that they pay the ORR when due, not follow their SP into the chasm.
Wouldn't want to be one of those that bought AED @ 11 bucks!
You said you had concerns about Puffin geology Matty. Seems spot on with Puffin 10 being abandoned.
Would much rather be holding NWE than SED at the moment, but NWE will still suffer.
As you say, we need to stop being a one trick pony, and get Cobra underway.
Yikes!
i left a buy order in @ 21 when i left work and now I have a few more LOL
averaged down nicely to 23 but hope it doesnt slide too much more :o
Well now it's back to my buy price. . .
I feel pretty stupid for watching this one rise, then fall, and never taking any profits (except for a small parcel I traded when it dipped back in mid-August).
An educational experience. . .
Should have got out when it first dipped below 30 cents on the negative puffin news.
Had I done that though I would probably have bought in again long before now.
Oh well. . .
If they hurry up and fix a date for drilling Cobra hopefully we will see a major turn around.