Yes the BP report is a lot better and detailed vs the very simple cut and paste job done by Pattos. Makes for interesting reading....
A very attractive speculative Buy
We maintain a Buy, Speculative on NEN. Our risked valuation for the stock has decreased slightly to $0.89/sh as cash has reduced to $11.8m and oil production from the North San Ardo oil field is curtailed ahead of drilling a new water disposal well. Our unrisked valuation is $4.94/sh with the majority of the upside related to the big targets offshore Vietnam.
I assume it will be up on the NEN site soon.
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- a very attractive speculative buy
a very attractive speculative buy, page-4
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