jiantan86, thanks VERY MUCH for this info! (And good guess, TShirt, on one cause.) I can imagine the trepidation of NEN holders waiting another week or two with no news about Paloma.
Even though I've gone through a few roller coaster rides this year (down with EHL, PAN, etc, up with CAJ, HZN, SEA, TLS, etc), having the stock price fall quickly does draw one's curiosity about causes. At least one poster thought the lower price implies inside info that Paloma failed. Others indicate that no news this coming week would be ominous. All concerns were logical. So the Paloma status info you communicated seems to set these concerns aside (for now).
It also reinforces my earlier point (sorry for being a broken record): NEN should do enough work in one area to justify buying its own drilling equipment. This has become the mantra of SEA, AZZ, and a few other junior OZ oilers. They learned that waiting for contractors in a competitive environment is too costly.
NEN Price at posting:
24.0¢ Sentiment: None Disclosure: Held
