OT, the comparison with PPP "on getting things done" is erroneous.
PPP came late to Origins party as a farm in partner, ie they are paying big dollars for their well participation. For timing compare Neon to ORG as they are both originating permit holders. ORG and NEN have low or no cost for their drill participation by virtue of adding value through the seismic and data analysis.
PPP more appropriately can be compared to ENI as a last arrival to the respective drilling JV's. In Eni's case they are paying out over $60M for two wells and seismic. I hav'nt seen the PPP terms but its usually done on a promote basis of 1.5 to 1 if you're lucky or 2:1.
As far as I am aware the ORG JV has taken every bit as long as the Neon JV.
NEN Price at posting:
25.0¢ Sentiment: LT Buy Disclosure: Held
