Hey Peter, Just performing Seismic this year provided all approvals are met, with drilling to commence (one well) before 2015, so PV or NPV should provide enough income to drill there, the western region of block 105 is shallow (NEN think there is a large oil deposit there) so should be cheaper to drill there first and work there way east toward China, depending of course on the results of the seismic. Some seismic is already on file and is being re-processed by NEN of the region, this should help them zone in on the seismic later this year, making it cheaper and more effective, quite possibly leading to cheaper drilling costs. There could well be a cap raising down the track, when the share price is significantly higher than current price. Now awaiting final analysis of the NPV~1 well data to see how much Oil in Place is there that is feasibly recoverable.
cheers
NEN Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
