Quality of recent seismic likely to have improved - but anyone who thinks it is anything but an exploration prospect doesn't have any technical grasp of oil and gas exploration.
Just to keep people's feet on the ground, my understanding was that NEN/Kris would not allow parties to farm in to 105 without also taking on the obligation of 120. That to me suggests the quality of the 105 prospect (and the associated DHI's on the seismic) versus 120.
Each to their own opinions though.
Close will be interesting today. Friday close - lots on offer up to 36c, but lots on bid. The question is - which side will get taken out at the close??!!
Here's hoping its the sell side.....
NEN Price at posting:
34.2¢ Sentiment: Hold Disclosure: Held