NWE - Trade Diaries

Norwest Energy (NWE)

As predicted, the share price has increased in the lead up to the announcement of the Farm In arrangements (Joint Venture), based on the speculation alone.


I believe this puts the share price in the upper bracket of its recent trading band and if it had closed above 3.2c for day I believe it would have been a clear break out of that trading band.


I hope that NWE's share price will follow what a lot of other specc stocks do prior to an impending announcement and rise significantly even before an actually announcement is concluded and shown to the market.


Anyways, I am sitting and watching movements during the trading day in order to capitalise on any joint venture announcement that is released to the market.. From my calculations, this should occur during the week of 23 August and be announced at the latest by 3 September ( which is the closing date of the share placement to existing holders).

Another interesting aspect to this share is that at around 2:30pm today AWE in partnership with Origin had stated that they had signed an agreement for the sale of gas from the Redback region of its tenements. Now for anyone that knows NWE and AWE well enough, you will of course know that both NWE's and AWE's shale gas tenements are next door to each other.


Therefore, it is quite possible that since larger companies such as AWE and Origin are selling the gas from the same region, NWE may possibly tap into that resource and follow suit once they get that started, as well as their oil hopes in TP/15.


From NWE's announcement on 28 July, they state:
"If the transaction proceeds the proposed farminee will be providing funding towards the drilling of the

proposed TP15 well, known as Red Hill South and the EP413 shale gas project to earn equity in each of those permits'"

Also, I think we should be getting an announcement of the WOLF-1 appraisal from AWE this week stating that drilling should have been complete.


Anyways, the Depth is looking great for NWE as well


And remember folks, always do YOUR own research and make your own soundly based decisions. After all, it is your money your risking.


Cheers


Activei Venture
(c) Copyright 2010

NWE update

back in the queue @ 0.027 to add a few additional..

Recent announcement issued on 10 August 2010 states that the proposed farminee had cleared its internal approvals to farm in to TP/15 and EP413. NWE also states that "However it is expected that the necessary documentation will not be executed, and the transaction itself will not close, for at least two to three weeks due to internal and unrelated matters for the proposed farminee"'

We are therefore looking at a timeframe of the week starting 23 August 2010 for an announcement

Another interesting point to consider for a short term trade is that NWE have determined to extend the Share Purchase Plan until 3 September 2010 in order to allow shareholders to "be fully apprised of the farm-out status.....when considering the SPP offer."'

From my perspective, NWE hope to announce the JV partner prior to the close of the the SPP on 3 September 2010. After the SPP, then the shares will be issued within the coming weeks putting a ceiling over the share price imo.. hence why I am in the queue @ 2.7c for an additional parcel

This should be a good event-based trade to capitalise on.

Always do your own research.

Swan should know weekly interest bill

Good one Treasurer Swan!

http://news.brisbanetimes.com.au/breaking-news-national/swan-should-know-weekly-interest-bill-20100805-11jcb.html

Swan should know weekly interest bill

August 5, 2010 - 1:44PM

AAP 
Australian families would be worried that Treasurer Wayne Swan didn't know how much interest the government was paying each week on its debt, Opposition Leader Tony Abbott says.

Mr Swan was asked several times on Melbourne talkback radio on Thursday to reveal the amount of the weekly interest bill.
"I can't give you a figure on that debt in terms of interest. I can give you the gross figure because that's the one that really matters, because it's entirely affordable," the treasurer said.

Mr Abbott said he understood it was $80 million a week in the current financial year, rising to about $100 million a week in the next financial year.

Mr Abbott told reporters in Sydney that families knew how much they were paying out each week.

"I do think it would worry the ordinary families of this country that the treasurer ... doesn't know what the weekly interest bill is," he said.