Guys - geology is one thing - but cash and access to capital is...

Guys - geology is one thing - but cash and access to capital is king ATM. Some quick considerations:
1. Canning Permits have significant holding costs (maybe $400-500k per annum based on acreage)
2. NSE have NO money - will have SEA shares - will need to sell to fund G&A and Canning holding costs
3. G&A still at least $1M - prob closer to $2M
4. That means NSE will again run out of cash in 6-12 months and have done NO NEW TECHNICAL WORK unless they raise more capital which mean significant dilution
5. Capital markets for green field exploration is CLOSED - so good luck getting funding or partners willing to fund $20M++ wells in the middle of nowhere - and especially with current management who have completely blown this thing up!

I agree with one of the previous posts that in 10-15 years, with technology improvements and better infrastructure, the Canning unconventional will be worth something. Today - nyet, nada, naught - particularly in a micro cap that can't afford to even hold them, never mind fulfill the substantial commitments they have to the govt.

Smart money is bailing out......look at the sellers v buyers.