I would be floored if less than 95% of the funds raised were not for California. I agree about the management of NEN, they are a class act and although I am never an advocate of a CR I am sure the reasoning will be sound as to the future regarding Paloma and why a CR was the preferred choice. To me it is all stacking up beautifully as to the future of NEN and where this company will be in 9 months or so. I had another listen to the BRR and as Ken mentioned that they have completed the tests on the shale I suspect that those reserves will be quite significant by themselves. Like everyone else I am hanging out for the reserves P1 & P2 as this will if my summation is right be a game changer
NEN Price at posting:
34.0¢ Sentiment: LT Buy Disclosure: Held