This may be lost on some people, but this is very significant.
Lets take the technicality out and think about this logically; the JV has made the decision to go to production testing based on the results from zones 1,2,3. We havent reached TVD nor tested zones 4,5 - which is where the PAYZONES were originally assessed. This indicates that NEN can produce from the top three zones, regardless of whether zones 4/5 contain fart-gas, C02 or who knows what. The logging must have been exceptional.
Completely derisked now, I couldnt care less if someone wants to correct me. Going home now, taking the rest of day off. See you all sometime.
NEN Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held