All I was saying was that we will have to wait and see .
NSE is a punt at this stage but I'm surprised so few people are willing to take it given that it has un-farmed out prime Merlinleigh acreage which is closer to infrastructure as well as the Canning acreage and in-house technical expertise and cash in the bank .
I couldn't justify a big stake at this stage of a long term proposition but I cannot see too much downside .
Eventually the wider market has got to cotton on to the revival of onshore exploration brought about by shale techniques . That could happen as early as April when Beach start flow testing the horizontal shale wells in the Cooper .
I think the market has made a mistake in considering current onshore exploration as being exclusively shale whereas in practice it's whatever they find when they drill holes :- - extensive but thin conventional reservoirs in contact with source rocks as in the Southern Georgina as well as shales there . - thick conventional reservoirs of varying sizes up to large - tight gas basin centred gas accumulations - conventional reservoirs which were previously rejected due to uncommercial flow rates which can be commercial with horizontal drilling and hydraulic fracturing - helium as well as gas oil and condensate - even mineral deposits as well as hydrocarbons - coking coal , thermal coal - oil shales (harvested by retorting or heating in situ) rather than oil in shales harvested by horizontal drilling and fracturing .
Exciting times !
NSE Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held