I see the trigger for the price to really shift will be an announcement out Paloma of flow rates from Lower Stevens, as this being a conventional oil discovery the market can attach its self to this. For the unconvetional as has been stated, a slower process but none the less important as to volumes.
Ken would not have made the announcement he did if it was not in the bag. I will be interested as to his next BBR and how he talks about Paloma given he has given the perception that Paloma was a side issue to Vietnam.
NEN Price at posting:
32.5¢ Sentiment: LT Buy Disclosure: Held
