NWE
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Company News
Strike Energy might be the next target in WA’s billionaire gas game
The battle of the billionaires for control of Warrego Energy (ASX: WGO) in Western Australia’s gas-rich North Perth Basin is heading towards a showdown but the war is likely to continue because Warrego might not be the main game. A second and bigger battle could follow with Strike Energy (ASX: STX), one of the current […]
GrainCorp’s exports face delays, Mineral Resources opens off-market takeover bid for Norwest Energy and Magellan shares plummet
Agriculture giant GrainCorp (ASX: GNC) has confirmed export delays caused by rail and road bottlenecks as countries including China try to secure food supply from one of Australia’s most successful harvests. Last week the giant reached the 10 million tonne milestone for grain delivered into its east coast receival network and insisted there is more […]
Mineral Resources prepares Norwest Energy takeover bid, APM Human Services acquires Everyday Independence and Westpac settles class action
Mining giant Mineral Resources (ASX: MIN) has revealed plans to make an off-market bid for the remaining stake in oil explorer Norwest Energy (ASX: NWE), adding to its existing 19.9% stake in the company. The deal will be worth around $403 million, at an offer price of $0.06 per share which represents a 33.3% premium […]
Oil and gas rush speeds-up as prices surge
A promising gas discovery revived interest in Buru Energy (ASX: BRU) earlier this week – delivering a 30% share-price rise in the latest example of investors returning to the politically incorrect oil and gas sector, a move which iron ore billionaire Gina Rinehart successfully made late last year. Though miles apart in terms of size […]
West coast gas sector heats up as companies rush North Perth Basin
Politically incorrect as it might be to invest in oil and gas there is a yawning value gap opening between share prices and a record international price for natural gas, with a bonus in the form of a takeover rush for producers and explorers. The top end of the Australian oil patch has attracted most […]
Norwest Energy hopes for West Erregulla-2-type gas discovery after review of nearby permits
A revision of prospective resources has led to a gas resource upgrade for Norwest Energy (ASX: NWE) at its Lockyer Deep and North Erregulla Deep prosects, which are close to Strike Energy (ASX: STX) and Warrego’s (ASX: WGO) West Erregulla-2 gas discovery in Western Australia’s North Perth Basin. West Erregulla recently achieved a flow rate […]