Norwest (NWE)- AED connection

**tommy** · 08-09-2006, 05:28 PM

Should this stock rise on the back of the recent upward swing of AED Oil?

Read this:

http://sa.iguana2.com/cache/91c969b5...NWE-333304.pdf

5th September 2006
Norwest, having an over-riding royalty of 1.25% in the Puffin AC/P22
permit advises that:
gPuffin oil field grows dramatically

In a presentation at the eGood Oilf conference in Perth today, AED Oil Ltd revealed that its estimate of the volume of oil in AED Oilfs 100 per cent owned Puffin field, in the Timor Sea, has been expanded significantly.

This comes after an extensive review of data from the 11 wells drilled to date, reinterpretation of previous seismic data and access to new seismic information.

AED Oil, which plans to start producing crude oil from the field in the first quarter of next year, is also investigating drilling a further development well to increase oil production rates at first oil.
A major new interpretation of the Puffin oil field by consultants acting for AED Oil, has resulted in a substantial upgrade to the expected Oil Initially In Place (OIIP) and the regional prospectivity, enhancing the attraction of a number of existing exploration targets, as well as identifying new leads and prospects. Revised maps prepared by RPS Group PLC, a major international oil consulting group, have incorporated information from the recent Puffin-9 and Puffin-7 wells, integrating that information with data from all previous wells. These
maps will be finalised when the reprocessed Onnia seismic data becomes available.

Based on results of recent drilling and 3D seismic survey information recently obtained, AED Oilfs estimate of oil in place within Puffin North East has risen from 13 million barrels of oil (OIIP) to in excess of 90 million barrels (OIIP).

Oil initially in place (OIIP) refers to the estimated volume of hydrocarbon liquids in situ in the reservoir. Only a proportion of OIIP can be physically and commercially recovered to surface. This proportion is the recovery factor. AED Oil is currently calculating and evaluating the recovery factor by means of reservoir simulation
and other techniques. A revised reserve statement will be released following an independent review of this work.

AED Oil has recently drilled the Puffin-7 and Puffin-9 wells which has improved the understanding of the entire field.

As a result of the new interpretations and information AEDfs initial evaluation indicated the known oil bearing structures are likely to cover a much larger area, than previously envisaged, and should contain significantly greater volumes of oil than previously estimated. The increase in OIIP within the Puffin field is expected to
result in a subsequent increase in Proved Reserves.

AED Oil is currently determining Proved Reserves, which currently stand at (P90) 10.4 million barrels of oil, which were based on the pre-drill interpretations. A significant upward revision is expected on completion of ongoing studies expected to be completed in the fourth quarter of 2006.

Oil production from Puffin field is expected to commence early in 2007 using a Floating Production Storage and Offloading (FPSO) facility. First oil production will be from Puffin North East with initial flow rates of 18,000 barrels of oil a day.

Initial production rates could increase as recent work on Puffin North East suggests that drilling of a further
development well into the reservoir could increase initial production to around 30,000 barrels a day. AED Oil
is currently undertaking a study of the costs and process to complete an additional production well in time for
first oil. The company has a drill slot available in December 2006 and has much of the completion equipment
available. In addition, the company is reviewing the need for further wells to maximise future oil recovery.h
For further information contact
Mr. Joe Salomon
Telephone: +61 8 9227 3240
Email: info@norwestenergy.com.au

**mark100** · 08-09-2006, 05:38 PM

NWE has a market cap at current prices of $27m.

As at 30 June NWE had cash of $7.5m.

On my estimates the NPV of the Puffin royalty to NWE is approx $20m. (assuming around 35m barrels recoverable). Adding on the $7.5m cash means your getting the rest of NWE for nothing.

NWE also has a share in production at Jingemia which is around 25bopd net to NWE

Mark

**tommy** · 08-09-2006, 06:17 PM

Thanks mark,

Damn, market is closed now... I was too slow. NWE up 36% today!

What a good week for traders, gonna celebrate tonight

Have a good weekend all!

**cloggs** · 11-09-2006, 12:46 PM

Up to 15cts now. A bit of a no-brainer this one.

**tricha** · 16-04-2008, 10:53 PM

Where has your one gone Shrewd, great balls of fire coming, oh and Puffin, its a blessing AED did not pump it at the required rate, much more value for little old NWE.

.................................................. .................................................
Borrowed of King Baz

EnCore likely to aggressively drill, appraise, flowtest, follow-up sidetrack (various), achieve commercial production at Cobra(imo).

In recent weeks and months (EnCore) has demonstrated its ability to discover massive amounts of gas (Breagh), negotiate corporate developments/asset swaps, secure rigs on short notice and follow-up leading to commercial production (read RNS).

Only a few moments ago (minutes), EnCore announced that they will be sidetracking the Barbarossa well, a process that is likely to happen a few months after the Cobra well.

QUOTE EnCore Oil says Barbarossa well to be sidetracked within gas-bearing reservoir
LONDON (Thomson Financial) - EnCore Oil Plc. said its 10 percent-owned Barbarossa well, operated by Venture Production Plc., will now be sidetracked within the Rotliegend gas-bearing reservoir.

Subject to successful testing, the well will then be completed as the field production well and the partners plan that Barbarossa will be developed as a single well subsea tieback jointly with the nearby Channon discovery.

The Barbarossa gas discovery is in the southern North Sea and 5 percent of EnCore's interest in the licence is subject to a potential buy-back by a previous owner. Barbarossa was drilled in 1982 when the well encountered the 113-foot thick gas bearing Rotliegend reservoir.

Side-tracking refers to digging a second wellbore away from the original wellbore.

The Barbarossa well is producing from the same reservoir geology (Rotliegends), except the Cobra well has at least double the reservoir thickness an in all likeliness is likely to be 400+ft.

Similar to Cobra the Barborossa well was drilled 20+ years ago . . .

Norwest has obviously been very quiet about Cobra as EnCore do not provide updates to drilling progress . . . but given the very real prospect of Cobra being a success and Puffin producing the same if not more cashflow than what we expected (due to increased POO not to mention SNP) . . . yet NWE is still trading at half of what it was 6months ago.

NWE is probably suffering from lack of PR (and admitedly a result of not having a CEO), but the underlying strength of NWE is improving rapidly and it will only take one presentation or announcement to make the faithful a bucketload of money.

In response to a few PM's, emails . . . my personal (non-investment) view for POS at Cobra is >75% for a commercial development with 100bcf+ of reserves and about 60% for 400bcf+ of reserves.

To be fair NWE has been traveling ok given the lack of buying, but with only 200m shares . . . as things pick up pace, the NWE shareprice will respond very favourably

**remy** · 17-04-2008, 01:59 PM

starting to be pretty stable at 17 now.. i think if it drops back to 15 it would be a good time to top up.. hopefully come next announcment time we wont be seeing it drop below 20 very often..

**tricha** · 01-10-2008, 11:48 PM

Originally Posted by remy

starting to be pretty stable at 17 now.. i think if it drops back to 15 it would be a good time to top up.. hopefully come next announcment time we wont be seeing it drop below 20 very often..

WELL u called this one right Shrewd, sorry for doubting u

Yeah, just sent King bull **** artist Baz a friendly reminder

WELL, WELL, WELL this calls for depaaration ( excuse my spelling) King Baz.

U want a biiger bounce before u sel.

Forgot it.

Wer ina bear market

and good news as WELL as bad news is treated with contempt.

Glad I sold at an average of 20 cents, than listen to the bullramp that keeps coming
out of your mouth.

**Crypto Crude** · 02-10-2008, 12:58 AM

Tricha,
It was very hard for me to sell NWE because I went so rampant on it (just like I am on CUE now) and it looked very good before puffin production problems came about... I think I just got lucky that mattyroo was around, and that I acted on it when production problems came about...
Things are now starting to look better for NWE with two AC/P22 wells...
NWE could perform from here...BUT im over it, not worried if it does or does not perform... Found a much better stock that im prepared to sell everything for, and that looks much better than NWE did when I got into that one...
Mackdunk picked NWE in our heads up competition at 26cents and now its 9 cents... he will lose our share picking comp because of this stock...
Hope it crashes... hahaha... anything to put a cock in his ****... I mean cork in his wine bottle... haha...
....
let the celebrations begin, Im already celebrating my new major journey and this aint even got going... roll out the red carpet...
we are going to party like it was 1969...

.^sc