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NWE - NORWEST ENERGY NL


theflasherman

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I thought the price would show more bounce as the drilling approached depth limit. The response was even subdued on announcement

but showed more life the following day. I hope the detailed assessment doesn't disappoint.

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  • 2 weeks later...

This is shaping up as a significant discovery

 

First good news on 08 Sept drove the SP from 0.8 to 2.0c, and today after the latest update, pinging 3.4c and closing at 2.7c

 

LOCKYER DEEP-1 GAS DISCOVERY EXCEEDS PRE DRILL EXPECTATIONS

HIGHLIGHTS

§ Petrophysical analysis of wireline data confirms exceptional reservoir quality in Kingia Sandstone

§ Net gas pay 20.2 metres (TVD) with average porosity 16% and average permeability estimated 500 Millidarcies

§ High reservoir pressures indicate an estimated 600 to 800 metre gas column

§ Discovery is expected to exceed Norwest's pre drill High Case prospective resource

§ Well being completed for production testing

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  • 1 month later...

'Further to the Company's announcement of 18 October 2021, cementing of the 5-1/2” casing string has been successfully
completed. The wellbore is currently being conditioned in preparation for the well to be suspended for future production
testing (to be conducted by Q1 CY2022) and the Ensign 970 rig will be released shortly to the next operator. The Company
will provide its final operational update once release of the rig has been confirmed."

Good news.

cheers

J

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