NWE- the shell and possible 20 bagger

[Crypto Crude]

I have been informed that the NWE thread has gone (soldier marching on), and I have had to start a new one...
that thread was a masterpiece so no doubt those that want to do further research into what has already been posted can look at it here...

http://snitzforum.sharetrader.co.nz/...TOPIC_ID=14520
....
The general salute is the best title for this thread, we have upgraded from a soldier even though the SP has be battered lately.... first puffin production is expected in a little over one month...
Norwest energy is one of the most undervalued oilers on the market, it is more than 100% undervalued on current assumptions...
NWE is on the brink of a new era as it leaves spec status behind... so lets bring in this new era with a new thread, and celebrate in style... still holding 50% of portfolio on this one stock....

[Serpie]

I've doubled my holding in NWE over the past 2 weeks Shrewdy.

Have sold of all of my rats and mice and put the funds into NWE and MRX at discount prices.

Hopefully we'll get news that Front Puffin has set sail very shortly, and that any delays at the wellhead have been sorted.

Even in a plunging market it's hard to argue with cash, which is what NWE will have bucket loads of in Q4 2007.

[Tech Step]

Apart from the puffin wells which I believe will provide NWE with ~70mil cash over the life of the reserve does NWE have much else going for it?

[Serpie]

I actually bought in initially (last year) because of the Bounder prospect (now re-named Cobra) but this has now been pushed into early 2008 for drilling.

I believe that Puffin is very much the NWE story for the remainder of this year, but something could come from left field at any time - with "left field" being India.

I'm sure that SC will provide a more detailed summary.

[Tech Step]

Serpie.

Is the puffin income enough to substantially move the SP though?

70mil income for a company valued at 50mil does not seem like much at all IMHO.

[Serpie]

Looking for safe havens at the moment TS, so anything with a revenue stream in place (or imminent) looks attractive.

I take your point though - Puffin has to be seen as a base, with additional value to be added by other projects.

In this case the substantial base that Puffin provides (by way of a royalty with little risk and no work) is ideal, but I dearly hope that the NWE team are not spending their days patting themselves on the back and checking the letterbox for AED cheques.

Bill Bloking has been on deck for a little while now, so I'm hopeful that he's earning his keep as well.

[Crypto Crude]

I have just looked at the rating system, and at the moment the NWE thread has a one star, A one star means that people/posters reckon that this is a 'terrible' thread......
someone doesnot like me eah...... hahaha...
if you dig this topic then show some support and rate this thread.....
the NWE thread has made many people cash, and this one would be above 30cents now if it werent for market risk... damn its given people a chance to get in on the cheap...
having fallen from 35cents to 26cents...
If you are from RRS then bite me...

[Huang Chung]

Not p$ss$ing in you pocket or anything of the kind Shrewdy, but I'll give you five stars for your regular and well considered posts on NWE (and other oilers)......and I don't even hold the stock.

[macduffy]

Five stars from me too. The old thread was the best of the oilers IMHO. May the new one thrive!

[Serpie]

I just can't see it being drilled this year SC.
We're in August now and I believe that if it was going to be before Christmas then we'd have more details by now.
The quarterly said they were still in discussion with potential drill contractors, and that one hadn't been selected yet.
It has to be drilled by December 2008, so I'd be happy with Q1 2008.