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Originally Posted by mattyroo
Not a good announcement at all!!
Much higher than expected water cut, lots of sand, which is very bad. Causes all sorts of grief with separation facilities.....
I see Mr KB is still ramping the pants off it over at SSC however. I will give it a few more weeks and see where things turn from here, but I have had a bit of a sentiment change post this announcement! Still the oil isn't going to go away, however if the sand cut goes high AED may have to drill more wells to try and maintain decent flowrates and we all know how much they cost to drill.
A fall in the POO and a further drop in flowrates and they won't be making a whole lot.....
Mattyroo
The oil is still there & NWE has no downside from the extra drills, if required thats the AED risk?
NWE is a nice little cash box & those cheques will start coming in, when the oil starts flowing...
Agree the ann wasnt too flash, but more so for AED than NWE.
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Member
Shasta,
Yep, my post is more aimed at AED than NWE. With the ORR, NWE's money comes from the oil that is extracted, before costs or anything that AED is exposed to. Therefore as you quite rightly point out, NWE have little downside.
I just post on the NWE thread as I sold out of my AED before the July correction. I was disillusioned in them as I knew exactly what was going on in Singapore with the FPSO, and that they had agreed to handover well before it was ready. More of a moral standpoint than a financial one!!!
I wonder how much of todays SP fall was stop losses being triggered by people who had got in right before first oil???
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Originally Posted by mattyroo
Shasta,
Yep, my post is more aimed at AED than NWE. With the ORR, NWE's money comes from the oil that is extracted, before costs or anything that AED is exposed to. Therefore as you quite rightly point out, NWE have little downside.
I just post on the NWE thread as I sold out of my AED before the July correction. I was disillusioned in them as I knew exactly what was going on in Singapore with the FPSO, and that they had agreed to handover well before it was ready. More of a moral standpoint than a financial one!!!
I wonder how much of todays SP fall was stop losses being triggered by people who had got in right before first oil???
I looked again at NWE, but its done nothing since i sold out ages ago at 30c.
So bought OEL & PSA instead...
I'm fast becoming a BLACK GOLD bug
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Member
Well bloody hell, my biggest holding has had the **** well and truly kicked out of it. . . I go out for dinner and come home to find a massacre. It was still looking good to close on 30 cents when I left.
Still this has surely been a little overdone?
I'm still well in profits anyway, so I figure I'll sit this out for now.
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Annual Report posted on the ASX Today
Hi,
You can access this from the Direct Broking Site.
What do you reckon for the SP?
rgds
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Its all quiet on the (NW) Western Front
Well there is news on the ASX including Front Puffin takes 328,000 barrels @ $ per barrel
... and will be back in mid November for another lot ... Puffin 10 Drill complete mid Dec ...
Therefore what?
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Member
She's back, Bitches!
NWE looks like it may string together a second good day and close around 30 cents.
Yesterday saw a good move up, and it's had a pretty big first hour of trade today.
Wonder if the shrewd one got back in already?
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Member
On second thoughts maybe I should go back and delete the title on my last post.
Let's hope NWE doesn't do a Britney on us.
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Member
Depth is looking encouraging again and could do a nice little 20% run soon I feel.
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