For the people stating that NEN will recover, why, exactly will the sp rise now?
We have drilled the two main targets and both were duds, it was always a boom or bust scenario for NEN.
They have very little tangible assets to show otherwise, albeit small production numbers that were not as good as expected anyway.
I took the loss, have some losses for future gains on other companies. I actually think they are a little overpriced for what they have now. Could be wrong and it could move a little. But you are not going to see 20+ cents for a long time coming.
O&G plays take years to develop targets and then finally drill. The next targets are a loooong way off now.
Better plays elsewhere IMO.
NEN Price at posting:
7.7¢ Sentiment: Sell Disclosure: Not Held
