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22 July 2022 @ 10am (WST)
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Important Information
The information contained in this Presentation or subsequently provided to the Recipient of this Presentation whether orally or in writing by or on behalf of Norwest Energy NL ("NWE") or their respective employees, agents or consultants ("Information") is provided to the Recipients on the terms and conditions set out in this notice.
The Presentation contains reference to certain intentions, expectations and plans of NWE. Those intentions, expectations and plans may or may not be achieved. They are based on certain assumptions which may not be met or on which views may differ. The performance and operations of NWE may be influenced by a number of factors, many of which are outside the control of NWE. No representation or warranty, express or implied, is made by NWE or any of its respective directors, officers, employees, advisers or agents, that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved.
The Presentation does not purport to contain all the information that any existing or prospective investor may require. It is not intended to be a complete or accurate statement of material information. In all cases, before acting in reliance on any information, the Recipient should conduct its own investigation and analysis in relation to the business opportunity and should check the accuracy, reliability and completeness of the Information and obtain independent and specific advice from appropriate professional advisers.
The Recipient should not treat the contents of this Presentation as advice relating to legal, taxation or investment matters and should consult its own advisers. NWE and its advisers take no responsibility for the contents of this Presentation.
NWE makes no representation or warranty (express or implied) as to the accuracy, reliability or completeness of the information. NWE and its respective directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from the Presentation, except liability under statute that cannot be excluded.
NWE is not aware of any new information or data that materially affects the information included in | market | referenced throughout the Presentation and that all |
material assumptions and technical parameters underpinning the estimates in the relevant | and have not materiallychanged. | |
Prospective Resources are the estimated quantities of petroleum that may potentially be | project(s) and relate to undiscovered | |
accumulations. These estimates are quoted as gross (100%) and have both an | exploration, appraisal and evaluation is | |
required to determine the existence of a significant quantity of potentially moveable |
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Lockyer Deep-1 Conventional Gas Discovery
- The Lockyer Deep-1 exploration well confirmed a very significant conventional gas discovery in September 2021 only• Norwest Energy 20%, partnered with Mineral Resources (80% Operator and NWE's largest shareholder)
- Flow testing in March 2022 resulted in one of the highest gas flow rates onshore Australia (117MMscfd)
- Results to date have surpassed all expectations in terms of reservoir quality , gas column, resource potential and flow rate
- Upgrades surrounding prospectivity
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Corporate Snapshot
CAPITAL STRUCTURE
A$0.041 | 6.7B | A$275M | ~A$23M | Nil | $252M | ||
Share price | Shares | Market | Cash (end June 2022) | Debt | Enterprise Value | ||
(21 July 22) | on issue | Capitalisation | |||||
HISTORICAL SHARE PRICE | OWNERSHIP |
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19.9%
48.4%
31.7%
Mineral Resources
Remaining Top 40
Other
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The Perth Basin Permian Gas Play
20142019
2021/2
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WAITSIA DISCOVERY
- Largest onshore gas discovery in > 40 years
- Opened up new, deeper, geological play
- Current 2P reserves ~860 Bcf
- Flow rates up to 90 MMscfd
- Phase 2 development underway, with export via Northwest Shelf LNG
WEST ERREGULLA AND BEHARRA SPRINGS DEEP
- WE-2flows 69 MMscfd
- BSD-1flows 46 MMscfd
- Strike/Warrego JV subsequently drills WE-3,WE-4 & WE-5
- BSD appraisal drilling planned CY 2022
LOCKYER DEEP AND SOUTH ERREGULLA
- 100% success rate in Permian play
- Lockyer Deep significantly exceeds pre-drill expectations
- LD-1flowed at 117 MMscfd
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Norwest Energy NL published this content on 22 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2022 00:23:03 UTC.