I'm with Ricky,what the hell is with the pessimism on here.
The market has been smashed the last couple of trading days, yet we are still holding 24 cents, so it looks like we have a higher base at least.
"If 105 is average, stock will get savaged. I hope you are wrong but I believe you are right."
Ramses - based on what crystal ball can you make such a statement. Everyone on here knows drilling inherently holds less of a chance than a bet on black, so i am guessing such a statement assumes complete failure?
As to the savageness of a sell down you allude to does this carnage consider producing assets and the rest of the portfolio ? Yes i know the market is irrational, however, we are not trading at 60 cents here. If we talk risk/reward - how much downside is there ? 10 cents? Compare this to possible upside if all goes to plan - 80 c? $1? $4?
We know that both blocks, based on the surveying data and surrounding activities by competitors, are exciting prospects - one more so for gas and one for oil. These are the facts.
Now this means nothing until we have a chance for translating this into producing assets right? Lets let the drill bit do the talking.
Last time i checked nothing has been drilled, ENI are still holding our hand and this story has every chance to end with rainbows and sunshine.
NEN Price at posting:
24.0¢ Sentiment: ST Buy Disclosure: Held
