2 milll sell overhang, page-41

Er - for those referring to me as a 'downramper', 'amateur' etc for mentioning that analysts have mentioned the possibility of a capital raising - I'm sorry, but you might want to try looking at NEN out of both eyes. Pretending I am some sort of bogeyman will not make your preferred version of the facts correct. Peter Strachan, to name but one analyst, has already mentioned the possibility NEN might want to raise cash soon. As I said, I'm not sure he's right. But he might be.

I hold NEN, I am not here to downramp it at all. But facts are facts, and there ARE people talking about it. As some have noted, it is a discussion worth having. Yes, if this well hits the mother lode, it will be nice to raise money at a far higher price. But what if the test results are not so great? What price do you think you'll be raising cash at then? 15c a share? 10? Might it not be better to do it now at, say, 25c to sophisticated investors? So you've got enough cash to get through the next well?

For those who say there is 'no way' it will happen, I wish I had your certainty of belief. Unfortunately, I live in the real world where just saying there is no way something can happen does not make it so.