I guess they are doing all they can considering the situation...

I guess they are doing all they can considering the situation they find themselves in.

When they first entered the U.S, things were peachy, oil was up, Magnum were riding high and NSE had a huge amount of cash. Fast forward to now.... If NSE had not pulled of the farmout with Santos, they would be close to broke. As such, they are instead able to survive until perhaps mid year?

They cannot keep delaying work commitments forever (fraccing). Even if the wells do get cheaper, its the oil price that is the main issue.

Admin of $1.8 million for the quarter is terrible. Even $1.2 for this quarter is hard to justify. I guess its all those fees to Magnum for helping out NSE.

As Whitenoise mentions, if the U.S oil price jumps back to $100 per barrel, NSE will move up nicely, but otherwise. Hmm.