gas is there but will it flow, page-8

Sherlock - I don't think any of the naysayers dispute that there is now a gas discovery in play, but the points you raise are irrelevant now as this has two outcomes, it either flows low CO2 gas at commercial rates - or it doesn't.

The questions raised about market, funding etc (which are facts BTW!) from my perspective (as a naysayer as you call it) has nothing to do with whether this will be a success or not - more to do with what the price will do post testing.

If you remember many moons ago - people talked of $2+. This was the point I decided to pipe up with what I think are the headwinds NEN faces. I think 60c+ post testing will be an excellent outcome but a $1 is a long long way off and won't be seen until at least post CR and post announcement of an appraisal well/forward plan.

The market knows NEN is completely stuffed if this thing doesn't work - hence the price! I give it better than 50/50 - but only just. Nevertheless - I am tempted to switch from a hold to a buy at these levels. If only they had something else in addition to 105 to support the market cap!! IMHO - they don't and they will drop like a stone if this fails.....

Fingers crossed they've got it right!