Whenever I speak to Jen at NEN I come away with the feeling that...

Whenever I speak to Jen at NEN I come away with the feeling that Ken and his team understand risk and always want to protect the company from it. I agree given that this is an O&G play that risk is what at least part of the game is about. However, Ken and his team seem to me, to be all about managing that risk.

Personally I think the SGY signal in May was the one, yes NEN thinks it is on to something, but it can only confirm that with further drilling. If it is good news then AOC/MAD type moves to the upside are possible. This being the case then waiting for the results would result in less shares and less dilution for the same $$$ outcome. Should however the results be disappointing, either in terms of flow rate or further difficulties with determining results, then having placed stock at 30c will be seen to be smart action by management.

I wonder if the way NEN has been acquiring additional acreage and that implies/suggests that Ken thinks there is a whole lot of oil/gas to be found, to do so he has to drill some holes, to do that he needs money now!!