NWE- the shell and possible 20 bagger

[Crypto Crude]

Tricha,
I decided a while back that I wasn't going to get back into NWE for Cobra...
Cobra looks good enough but no-one can really be sure until it comes through...id always thought about 50%, ive been pretty damn conservative (discovery, flow rates, commercial, development, production)...KB reckoned about 75% off memory, my thinking is more to do with all the steps..... discovery is pretty much a sure thing, just like with LMP, MEO... Announcement could come at any time from here...

Ive heard good things about Wisteria (dual target) for July spud...(poss Oct)
So I will wait on Cobra results and get into NWE if it goes bad...
If it goes good then I may have a crack at BUY...
Im hoping like H*ll that Cobra is a raging success...
I picked up GGX instead of NWE which is going real well..
.....
This may answer a few posters queries-
The main reason why I have been cautious of getting back into NWE Is because its like picking over a dead carcus with AED...I had my time with AED, NWE... the companies completely turned, and it was time for me to find a new company because NWE and AED was going to take time to get back everything that was ripped away from the Top of production...
This was meant to be a dream, and sure thing for NWE and I felt slightly scammed because I believed that AED was the real deal...
They were so good before production... and were so bad after...
it was never about the going concern assumption...(small revenues)...
it was about the Holy Grail when I loaded up 80% of everything into NWE...
I decided to back off from little nortwest when it started to turn before production stage...-->flowrates came through lower and I got lucky when I bounced when Markets turned...there is every bit of evidence that Puffin NE was stuffed up by AED at the completion end of drilling... It was AED's fault which almost cost investors company survival...
...
Look at TDO, best management ive seen... Big announcement coming, expected early this week...If good, managment wont stuff this one up like AED have done with Puffin....
until about a year ago, I never thought management was such a big deal...
Management is the difference between failure and success...!
Management is most important... AED dont have a clue...
they are finished without sinopec... But Sinopec have the goods and we rely on Them to push this along...
im not crapping with you... Oiler could seriously do a better job as a wing man at AED......
BOW have great management...Ron Prefontaine...
TDO have Peter Willcox....
id love to see them going toe to toe in an all out brawl... PWillcox would smoke RPrefontaine in the ring...
some of best managers around...
these two would be on my A list...
...
all the best for next week/next few weeks...

.^sc

[axion]

A bit of movement today, hopefully Cobra comes up trumps.

[Serpie]

It's about FREAKIN" time!
Announcement today regarding drilling about to start on EP413 at Freshwater Point, but with a 1.278% interest in this field you've got to think that it's all about Cobra.
All fingers and toes crossed.

[Huang Chung]

In the bottom drawer Pufin royalities are there for the long term, while Cobra will either send them to 24 or back to 14

http://www.asx.com.au/asx/statistics...idsID=00841380

Results are apparently in line with their pre-drill expectations, but the announcement doesn't seem to have a very optimistic tone to it.

[Huang Chung]

The guys on Sharescene are all excited, so I'm probably off the mark with my assessment.

I know bugger all about oilers in any case.

[axion]

It didn't read too enthusiastically, but then again I don't really know much about what was being said, but the tone did seem fairly poor. TBH I don't know how much you can take from the sentiment on ShareScene, everyone seems to take their cues from KB.

One curious bit is where they mention the result is what they were expecting, so surely they aren't expecting the bad result?

Encore is down almost 4% on trading on the LSE. (http://finance.yahoo.com/q?s=EO.L)

There is a bit of a conspiracy theory going around saying they're trying to make it look like a bad result as they're currently bidding for the blocks near this one. (bidding closes inside 2 weeks)

[tricha]

It didn't read too enthusiastically, but then again I don't really know much about what was being said, but the tone did seem fairly poor. TBH I don't know how much you can take from the sentiment on ShareScene, everyone seems to take their cues from KB.

One curious bit is where they mention the result is what they were expecting, so surely they aren't expecting the bad result?

Encore is down almost 4% on trading on the LSE. (http://finance.yahoo.com/q?s=EO.L)

There is a bit of a conspiracy theory going around saying they're trying to make it look like a bad result as they're currently bidding for the blocks near this one. (bidding closes inside 2 weeks)

The key, the result that they expected.

[Sharp737]

Yes and they say that it's going to take 14 days to complete the flow testing. That would make the results after the blocks have been awarded and so gives quite a bit of credence to the conspiracy theory. Unless of course it is just purely co-incidental...

But the reservoir sounds a bit like PPP's Maitland but over 400' thick. Now that is pretty big! Quite a bit of suspense in this one

[Serpie]

The low permeability was known, but dont forget that Cobra was always intended to be completed as a horizontal, or series of horizontal wells.
This drill was purely vertical, and intersects 408ft of reservoir. Once they go 6000ft sideways through the reservoir it becomes a very different beast, especially if they start running multiple laterals.

[Gofish.]

A comment from someone who seems to be familiar with Encore on the TMF O&G board:

" Share down 2p, which can only be down to profit takers from those hoping for flow results today rather than 14 days time. "In line with pre-drill expectations" is as positive as it gets from Mr. Booth, so that will do for me. KBC have Cobra as being worth 5.2p unrisked but with considerable potential for upside surprise "

Seems like they have got as good a result as they could have reasonably expected - they always knew that gas was present, now the hard part begins - can they get it to flow economically?
I think the answer will be yes, otherwise why would they have bothered to drill? But, don't count your chickens........