ann out, page-13

Good to see they went the combo option, ie placement + SPP. Sadly the SPP is capped at $5mil, although that in itself might reduce any SP drag while the SPP application process is open.

I hate subsidised placements but it is a reality of the market and see such significant interest in our company is inspiring.

I guess that we got the extra interest in Paloma back from SGY on the cheap and in doing so interrited the extra completion costs so any discount on this placement, ie $3mil-ish is probably going to be covered many times over by the extra profits from the increased share in that field. The net outcome of these recent events seems very positive for NEN shareholders.