I have been doing a little more research on NVG's tenements and it has been very interesting.
The NAVGAS presentation (29/10/2012) is well worth a read. Some of the key points are that NVG is a major tenement holder in the Arrowie Basin (the Basin next door to LNC's Arckaringa Basin).
LNC have 65,000 sqkms in the Arckaringa, and NVG have 50,000 sqkms in the Arrowie.
We know that back in 1990's before shale and fraccing was around, there was a drill hole that intersected 400m of shale and flowed gas to surface....
Not only are there unconvential targets (Shale) on NVG's tenements, but there are conventional targets as well.
In some regards, most importantly in a study released by Geoscience Australia in May 2012, they talk about the potential on the Arrowie basin, the fact that is mature for both OIL and GAS generation, and that drilling is warranted.
https://www.ga.gov.au/products/servlet/controller?event=GEOCAT_DETAILS&catno=71976
I'm more than happy to see great risk vs reward at the current market cap of around $7m at 3.5c. NVG is worth many times the current market cap IMHO. They have massive acerage, known hydrocarbons in the basin, are much closer to infrastructure than their neighbours (plus with a pipeline running through their tenement), and there is a Geoscience Australia report stating that dilling is warranted.
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