'Saying that this is because people don't know about it is a crock.'
Its not that people don't know about the stock, more so that many just see it as a blue sky play rather than looking at all assets. But i guess that's the markets take and no point complaining about it.
People considering getting in may overlook the fact that NEN has producing assets, a big reason why i got in to begin with.
Paloma also has potential to be jv or sold off and is not a small play either.
Then there is Indonesia, the block has had previous discoveries and the jv 'has identified multiple petroleum plays in both shallow water and deep water, each with the potential for commercial accumulations of gas/condensate and/or oil.'
'The Tanjung Aru Joint Venture Two gas discoveries are situated within the block, both drilled in 2002. These fields were deemed to be non-commercial at the time of discovery but may offer potential for commercialisation together with a larger discovery. This is particularly so given the recent increase in domestic gas prices in Kalimantan.'
So while the stock is known, the full story may not. But all that matters is what the market thinks. And right now its focus is on block 105.
NEN Price at posting:
30.7¢ Sentiment: LT Buy Disclosure: Held