BTW, oil price is now close to $105 a barrel. It's not going...

BTW, oil price is now close to $105 a barrel.

It's not going down as expected by some posters here. There are no wars, no supply restrictions whatsoever. It's going up as the demand, or the consumption is going up. That's the fact.

I am overseas atm. I have seen cities full of vehicles running around consuming petroleum products (petrol, diesel, gas,etc.) like crazy, at even very higher prices than Australia. I can see there is such a big demand for energy, no matter the price is. Even the mobile phones in everyone's hands and pockets are consuming big energy. I think the world is rolling down into a big energy deficit valley.

The other fact as mentioned above; the cost of production for a barrel of oil is going down and reserves (EUR) are getting bigger due to the higher recovery rates because of the new technologies applied to the same certain EFS formation. EFS is unique in the world. There is no other EFS like location. That's a big luck that EFS is located in the US where the technology (especially for the petroleum industry) is at its highest level in the world.

All those things tell me that NSE's EFS operations will be very profitable by the day as long as the oil price goes up.

If the oil price goes down below $90, NSE would be able to compensate the loss by the new technologies which would provide cheaper production rates and higher EURs.

That tells me that NSE has very little risk.

I think that's why the MD is still buying NSE shares.

Let's wait for the fracking and flow testing.