Its a shame you had to sell out plough.
I can see where you are coming from but 2015 looking like it could be a company maker.
IMO I think AOW have had no choice but wait for info regarding the 'strong oil shows' from Treasure Exploration Corporation, (TEC) the project operator.
Anyway maybe we will see you back in once things become allot clearer.
The following is the short term attraction for me. The Northern Star Project as stated below could be the company maker. So far if you read between the line its looking good to deliver.
The following from yesterday's Activities Report
=======================================================================
Unconventional drilling programme commenced at Northern Star project
Drilling of the first unconventional, horizontal test well in the Northern Star project in Montana, USA has
successfully reached target depth. Reaching target depth on drilling this first horizontal well so quickly,
was a great accomplishment, and the JV is encouraged with the way the drilling has proceeded to date
encountering good oil shows in the target zone. This result demonstrates the importance of using a first class US-based operator that has substantial experience drilling and completing horizontal wells in similar reservoirs in the Rocky Mountains. We expect that this experience will help reduce drilling and testing costs and greatly increase the profitability of the overall project. The speed and results from this well justify our confidence in the project operator.
This well is part of a two well (plus to well option) program that has the potential of unlocking a new, tight
oil resource accumulation. Importantly, AOW is free carried with no cost caps on the first two horizontal
wells. TEC will determine the best zones to perforate and the best methods to enhance production from
the subject well. AOW will continue to make additional updates as appropriate during this testing phase.
Success on these wells could unlock a significant, new, tight oil resource with the potential to create
significant acreage value and upside for shareholders.
On the 21st October AOW announced that it had become a commercial oil producer less than four months
after listing on the ASX. The first conventional well, Fort Peck 6-32, was successfully completed in the
Lustre Field at the Northern Star project, Montana. AOW’s JV partners are now in the stages of planning
for the next conventional well with drilling expected in late 2015.
The successful Fort Peck 6-32 well is the first of a potential 17 conventional oil prospects generated from
modern 3D seismic data, with multiple stacked reservoirs that are proven producers in the region with
access to infrastructure and significant upside potential. Success in all or some of these prospects opens
up the possibility of extended in-fill drilling and additional field development representing a significant
potential new conventional oil resource, worth hundreds of millions of dollars which could create significant shareholder wealth and cash flow to underpin the business. In light of the new industry conditions drilling
costs have fallen sharply with which could reduce overall exploration costs. AOW will be looking to take
advantage of these favourable new industry conditions.
