An analysts view - note the cash is way off IMHO - so even less than 5c in near term I would suggest.
"Stating the obvious but a disappointing result. The well will now be P&A’d.
Well deliverability was very low and CO2 almost irrelevant given low flow rate.
Cash estimate at $19m or 3.4cps. US operations not worth more than same again. So underlying value that is relatively easy for the market to calculate is a low 6cps.
This process ascribes no value to Vietnam – and this certainly would be a wrong conclusion. However, this debate will be left for another day.
I have yet to talk to the company but there is no high level activity/catalyst is planned in the short/near term."
NEN Price at posting:
7.4¢ Sentiment: ST Sell Disclosure: Not Held
