Norwest Energy Ltd (ASX:NWE) has traded 129 million shares in the first hour of the session, with the valuation of the company falling 37.5% to $0.005.
Norwest is a partner in the Xanadu-1 conventional oil well in TP/15, a permit located 1.3 kilometres offshore Western Australia.
While a discovery was confirmed by Whitebark Energy (ASX:WBE), it doesn't appear to be at a level investors were expecting.
READ NOW: Whitebark Energy confirms oil discovery in Western Australia waters
Company Name · Code · Last · Change · Volume
Norwest Energy NL · NWE · $0.005 · -37.50% · 128,952,385
Boart Longyear Ltd · BLY · $0.020 · -25.93% · 24,158,122
Triangle Energy Ltd · TEG · $0.165 · -21.43% · 620,140
Stargroup Ltd · STL · $0.019 · -20.83% · 4,830,402
Invion Ltd · IVX · $0.004 · -20% · 9,839,656
Red Metal Ltd · RDM · $0.190 · -19.15% · 1,539,183
Uranium Equities Ltd · UEQ · $0.005 · -16.67% · 358,448
Byron Energy Ltd · BYE · $0.100 · -16.67% · 1,268,690
TBG Diagnostics Ltd · TDL · $0.110 · -15.39% · 5,000
Austral Gold Ltd · AGD · $0.150 · -14.29% · 15,012