Norwest Energy to farmout TP 15 and raise money July 28, 2010

Norwest Energy (ASX: NWE) announces that farmout negotiations for TP15 and EP413 are at an advanced stage.

The Company also says that a Share Purchase Plan is to raise up to $4,580,773 by issue of up to 176,183,575 shares at an issue price of $0.026 per share, representing a discount of 9.1% to the average market price of Norwest’s share price over the last 5 days. This will be used to fund UK and Australian exploration activities including interim bridging funding of TP15 and EP 413 pending completion of farmout.

Click here to view the full announcement.

For further information, please contact:

Peter Munachen or Ernie Myers
Tel: +61 8 9227 3240
Email: info@norwestenergy.com.au

Media and Investor Enquiries:
Fortbridge on +61 2 9331 0655 or
Steve Rotherham on +61 (0)421 488 320
Email: steve.rotherham@fortbridge.com