Sherlock....the fact of the matter, setting aside the Vietnamese and other prospects, is that California has been the only prospective short term money-maker and 12 months later it's looking like a dud. Now, whether management should have been more pro-active in looking for another "expert" to assist them in determining Paloma's real potential, perceived or otherwise, is a moot point. It seems to me that with the dearth of outside consultants available to assist in properly advising on the most effective options in maximising the potential of Paloma, NEN management were in a cleft stick and had no option but to wait until the guy they favoured, who was of course being monopolised by OXY, had some free time. In spite of the above, Paloma and any of those Californian plays are extremely difficult and the time taken (and money spent!) are testament to this. I just hope they are able to pull a rabbit out of the hat and establish at least a commercially viable small flow rate from Paloma, then move on to the shite or bust Vietnamese stuff.
NEN Price at posting:
25.5¢ Sentiment: Hold Disclosure: Held
