Post by
WCWiteration3 on May 20, 2021 4:36pm
this is a total sell
all nwx has is this GORR, a great one for sure with zero cost at anytime for production from that flank, excluding a pel that has small production of gas,
These wells were a great find, the Bauer Field. best wells, 1000 bopd wells.. cheap too. no frac. made little Beach into a big company allowing Beach to buy Drillsearch 25% of Bauer then they bought another mid tier company.. all on cash from the Bauer Field with its $5 oil costs. yes.. under $5 a barrel to produce it.
as strong as those fields come on.. they go out Beach warned of wells showing much less production. they drilled the tiny field anyway.. it is now in fast decline/ We see this report even bleaker. The only money nwx has, is from Beach/ Beach runs all those wells. They can just move on, they got plenty of money out of Bauer. the other wells in to the mcklay and birch whatver,, those wells are not Bauer.
Beach will stop putting money into the western flank. that means nwx will soon have no inflows and will be worth nothin as the assets dies out.
dont matter what they paid out, it was great stuff when they paid out 4 cents on a 25 cent stock and when production and royalty was coming in strong, no more it is not strong, it is in decline. the decline will mean you shareholders will soon be getting a penny. then in a few years, nothin..
dont own it,