the land of nge

Those who currently are on, thinking of joining or considering leaving the register consider this...

Not long ago NGE was the talk of the Copper as speculation of a deal regarding a Multi National JV created an army of keen followers and consequently holders, albeit many short term. This resulted in a buy the rumour sell the fact scenario despite the confirmation of securing a MNC partner, a fully funded drilling program and protection from a capital raising being better then expected. Although nobody likes to see the share price retract on such a positive announcement the register is settling and I think this is very important to confirm to many watching that we are not going back to 8 cents! The short term decline has nothing to do with the facts of the deal and I want to tell you why in my opinion NGE is still pending a serious rerating.

I'll do a few posts on different aspects over the coming week but this will focus on the land.

6 permits in a proven country/zone for oil and gas with 15TCF and over 1 billion BBLS of oil in adjacent permits. One of the permits has a 100km system with an oil seep of 5bbls per day - not commercial at those levels but maybe if we scratch the surface it might be ;). NGE retained 100% of this permit and the dollars to drill by the end of the year. A site has been selected and an announcement is pending regarding securing rig and drilling schedule.
One of the permits Tailsman will be drilling has a system that from the seismic appears to be joining the Stanely gas field next door in it which has reserve of approx 31mmbo and has been identified by NGE as an avenue to fast track to production. Most are probably aware that Horizen are on the other side of the Stanley fence which Tailsman also just bought into - gotta love the synergies! Horizen plan to bring this online in the next 6 months.

Overall, 7 drillable prospects and 84 leads which have further seismic planned to confirm potential size and likelihood of commercial oil/gas. The resource rich land is there and the oil and gas is screaming to be found - some so bad it is coming to the surface on it's own!

And the best part of all is that confirmation of the JV partner has secured funding for us to drill up to 6 wells. That's right - confirmed! No longer is NGE a stock with high prospects as it will soon be drilling and allow us realise our lands potential.

Feel free to post further thoughts and analysis on adjoining findings with overlaps, etc. It's getting pretty quiet on here and while we wait for the announcements to roll in lets recap what we know and spark some new interest in the process!

BG