Folks, it takes time to test each hydrocabon zone and analyze the results of a complex play. But surely even the sympathetic posters here agree that it does not take a year to test multiple zones of one site. And although sand zones are known to stuff up equipment, not to the extent that it accounts for such slow progress.
As OptionTrader pointed out, if you look back over the year, there really hasn't been much accomplished. Sure, there has been some development -- ENI partnership and some new Calif land acquisition -- but those activities are far away from revenue generation.
And to echo Sherlock, the current situation isn't really lack of communication; it's lack of any substantive progress worth communicating. This slow pace of business development can put a company at risk and cause it to engage in ill-timed capital raising.
But may be light ahead: groucho has some enlightening info about NEN's progress at Paloma and ENI's progress in Vietnam. So, *maybe* NEN's forthcoming announcement will report good hydrocabon results at Paloma and announce rapid actions to extract those resources (or farm-in Paloma, as stapleman suggests). Meanwhile, we'll hopefully soon find out about ENI's progress in Vietnam.
NEN Price at posting:
26.0¢ Sentiment: None Disclosure: Held
