🕐25.11.11 - 05:54 Uhr

NORWEST ENERGY [ASX: NWE] - OFFER FOR NEW NWE SHARES UNDER UNDERWRITTEN NON RENO
UNCEABLE 1-FOR-8 ENTITLEMENT ISSUE





Fortbridge Media Release

Norwest Energy [ASX: NWE] - Offer for new NWE shares under underwritten non renounceable 1-for-8 Entitlement Issue

As announced earlier this month, the Directors of by Norwest Energy (ASX: NWE) have today offered "Eligible Shareholders� (as at 5 pm WST on Record Date of 21 November 2011) to subscribe for one new ordinary fully paid share in the capital of Norwest for every eight existing ordinary fully paid shares in the capital of Norwest held on the Record Date, at the issue price of $0.03 per new share, to raise up to $2,913,837 before expenses of the Entitlement Issue.

This is for expenditure on working capital and exploration. It is currently the intention of the Company that its exploration focus will, over the next four months to the end of March 2012, be on the following:

* the hydraulic fracture stimulation and testing of Arrowsmith 2;
* the 3D seismic programme to be conducted on EP368 and EP426;
* the 2D seismic programme over the UK Wessex Basins; and
* the continued evaluation of SPA-0013,

and this exploration effort is currently estimated to cost the Company an amount equal to about 70% of the sum raised by this Entitlement Issue.

The Entitlement Issue will also give Eligible Shareholders the opportunity to acquire additional shares in Norwest without having to pay brokerage costs.

Please find more details in the attached announcement.

For further information, please contact:

Peter Munachen or Ernie Myers
Norwest Energy
Tel: +61 8 9227 3240
Email:

Media Enquiries:
Peter-John Lewis
Fortbridge
Tel: +61 2 9003 0477
Mob: +61 (0) 416 290 604
Email:








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