highlights from last presentation , page-14

Players in NSE waiting for:

"If NSE hit wet gas - what is the value we can expect on 1st day of trading. I'm thinking gapping up by say 60% (say 80c drop down to mid 70's before resuming uptrend towards $1)"

...will be sorely disappointed and bail when it doesn't happen; leading to price weakness and associated bailing by those not there for the real story.

There persists a general lack of understanding of how value is created in the unconventional space in the OZ market (at both institutional and retail levels); notwithstanding the success of stocks like AUT, SEA, et al.

NSE value will out over the next 12 months following:
1. 3 Goldwyer wells + associated lab analysis/DFIT
2. Goldwyer cores will go to labs for analysis and as that analysis/DFIT evolves the productivity of shales will unfold.
3. By the time all analysis completed and explained to market by NSE (mid 2013) one might expect $1 plus action...from that point on I'd expect some parabolic price action as big money realises NSE acreage value parameters.
4. Within that same timeframe there'll be some action around the Merlinleigh project (farm-in 2H 2012/drilling 1H 2013)

Imo, punters on board now thinking they're getting a free ride to unconventional heaven on Nicolay are dreamers.

Imo, there won't be any fireworks.
The tsunami doesn't exist.

My guess is that this penny has dropped for a few players that were in NSE for the wrong reasons, have now realised that there won't be any conventional-type announcements to feed off, and are rectifying their error.

The tide is, however, for longer term NSE players that get the joke, waxing.

Good luck!