Let's go back 8 months.# NSE announced the JV with Conoco in...

Let's go back 8 months.
# NSE announced the JV with Conoco in July 2011.
# then the CR @ 30c ..
The market at that time was rather sceptical & was valuing NSE at around $90m...It wasn't paying any significant premium to Conoco's offer..The SP even dropped under the SPP (was there a reason as to why the market was having cold feet then...I doubt that Goldwyer potential was a well kept secret known only to HC)
It is worth noting that NSE's SP was "struggling" during a time when BRU was powering ahead.
Nothing has changed in those 8 months except for BRU's drilling success.
There are very good reasons why BRU is a $700m company.
1) Much more advanced.
2) It is more in control with a very attractive 50% interest...It means they have a much better chance to stay independent...Also they have a lot of bargaining power in case of a T/O.
We can't say the same about NSE.
There are very strongly opinionated people that firmly believe that NSE should be worth $1b in a few months & a few billions in a couple of years...This is rather extravagant.
The market has added $100m to our MC in anticipation of good things to come...but it is quite possible that the speed of rerating might slow down untill the middle or end of the year.
There has to be some middle groud ..Let's hope that NSE will reach an MC of around $300-400m by the end of the year ...more importantly we ought to listen to whatever massage the market is giving rather than having a mind set about a preconcieved value that we might not reach...There are just too many variables no one is clever enough to fully grasp.
Having said that..NSE is quite healthy...This is not meant to be a downramp.