a future for nen ?

The title of the post summaries the dichotomy of opinions apparently present on this forum. After reading through all of them, we have the usual downrapping buffoons, but also some real concerns here from fair comments.

Firstly, on the sp movements today there is clearly negative sentiment. Volume was more than double average volume. This could of been caused by a leak of information on poor Paloma results or simply the market getting over the constant delays with drilling. The leak suggested on poor results is pure speculation and nothing more at this stage. Now personally i cant see it falling to the teens unless poor results combine with poor macro issues such as the fiscal cliff panic. But it seems that people were paying more attention to Paloma than many originally thought, including myself.

The jury is still out on Paloma, nothing is factual on today's speculation.

In regards to suggestions that it is all over and the stock is a dog. Well i agree the stock performance has been terrible but one year trading on rare news flow i guess it would be expected. And being a dog is relative, if you brought in two years ago you would be up 40% or one year ago down 40% - its the nature of the beast especially in this industry. No one can predict the future.

Not to mention a capital raising on the back of no news flow, i think that was a very poor management decision. I think it was poorly timed but cashflow was becoming an issue with production rates falling due to those water issues.

The flip side is the stock will run into Vietnam, there is no question in my mind that there will be hype that will see the sp recover - to what point i don't know. Vietnam is exciting due to the potential size of the reserves and our partners (ENI who are funding the drilling). see this video for Ken's insights; (it is dated)

http://www.bloomberg.com/video/71616426-neon-energy-says-vietnam-has-big-upside.html

The size of the blocks are quite large and the risk/return seems quite good. 3D surveying helps de-risk the drilling and some news flow would be GREAT on the 3D results. I don't buy into the argument to keep it quite to avoid a takeover.

SO what if anything has gone wrong?

Firstly i think some confidence generated from management would be great. I have said it before, prudent and reserved management is great but not all shareholders can afford such ups and downs. More can and should be done on the PR side of things.

Director buying would not hurt - it builds confidence when management put their own money where their mouth is. I don't know if anyone in management owns substantial shares - i would appreciate someone clarifying this area.

I also think the market is starving for some news flow, hopefully Paloma issues will be clarified this week and 3D results are released on Vietnam. That way at least the stock gets both prospects into perspective.

I do believe there has been an overreaction though, there is no concern large enough for such negative sentiment. The overreaction is a characteristic of current market conditions, hopefully the macro issues don't stick around and news flows....whether oil flows or not....let the news flow.....

Good luck to holders.