cua lo-1. prod testing, page-18

geospud,

While I'm not counting my turkeys until closer to xmas when 4 and 5 are drilled and production testing has started, I am seeing this news as positive. While I understand your desire to see explicit language and exact numbers with all I's dotted and T's crossed, that is rarely the case in this game, particularly pre-production testing. Those companies that do such things are usually the ones you lose your shirt on.

I may be one of the "deluded" on here but what we know from this announcement is that the log data has been recieved, analysed and the results waylay previously expressed concerns that the CO2 levels would make the gas non-commercial. If the wire-line logs told them otherwise then no amount of liberal interpretation of the resulting announcement could or would sound like "production testing is warranted". I think you would agree.

So while risks are still present until production testing is done, and nobody is denying this, this announcement is positive because of what it didn't say, and what it would have had to of said of the log data showed poor results. Nothing neutral about that. If you want flow rates (and we all do) then we will have to wait for those tests to be completed. No point judging this announcement harshly because it doesn't announce the results of something that we all knew hadn't started yet. Lets just see it for what it is.

No doubt many non-holders who watch NEN want and may need such clarification and cast iron numbers before getting in, and sure this is likely holding the SP back but that desire doesn't change the fact that if CO2 content made zones 1 through 3 uncommercial the company would legally have had to advise as such but instead confirmed its confidence in the opposite.

As I said in my other post the market has failed to react to almost every major derisking event NEN has had on these Vietman prospects in recent years yet surely nobody can deny that NEN and its partners have made massive progress and the much touted CoS is surely higher now than at any point in the past. Yet the SP is still at a low and largely unresponsive to any news. So be it. The market is neither right now wrong at this point and the market knows nothing that we don't. I personally feel that I've got a much better than 50:50 chance of giving a big birdie to the market come xmas as I'm sure most holders do.

You want us to listen to the market yet many here follow, read and understand NEN much better then the "market" ever will. The wise "market" sold me my first NEN stock for 12c and yesterday offered stock for 27c, and this morning at 32c. By xmas the market may well price it at $1 or 20c? Either way I'm confident that the market that you want us to listen to has NFI. Of course this is the same market that priced Babcock and Brown and ABC Learning, and more recently the bizaar pricing of Facebook. None of us purchased this stock thinking that market was right.

Lets not be disengenuous re what they have found so far. Since they set out to get this block based on data then had 2D data gathered, had expert independant analysis performed, got 3D data for refined targeting then attracked one of the world majors and drilled in a very specific spot based on all that is known, its hardly fair to suggest that this is likely just some random geological turd decaying under the sea.

Your comment just seems a little dismissive of all the facts:
"All we know is that they have hit some gas of some type. Gas shows are very common...but for significant gas to be trapped for millions of years is another thing..."