a very attractive speculative buy, page-39

I agree NEN is undervalued however, NEN has found some huge finds at Paloma but they are only contingent resources at the moment. The market is waiting for flow rates, reserves and a independent person to make a report on reserves. When this has been announced I am more than confident that the sure price will move along nicely. Also, with what has been reported there will be a number of announcements that will following the latest drilling.
At the moment we have a number of hydrocarbons showing oil and of course the gas. When it is know that there is a commercial proposition the price should rocket.
I would expect an announcement from P3 next week regarding the gas flow rates in the Tulare and San Joaquin.
I don't think OXY are lining up wells alongside NEN just to keep them company.
As far As the share price goes I am of the view that it is still early days and one needs to be patient.