The well costs are something of a murky grey area at the moment as best I can tell. If anyone has absolute clarity on it, I'm yet to hear it.
There were weather delays with both wells that the company is on record as saying would add to their costs. In addition there were the technical problems encountered with Cua-Lo which would have added costs - possibly significant costs - to that drilling bill. And then the bill for the testing on top of that.
Given the cash they had, personally I'm of the view they'll need a CR sooner rather than later. I could be wrong. I've been wrong about a lot regarding NEN of late.
NEN Price at posting:
5.6¢ Sentiment: None Disclosure: Held
