"Onshore Papua New Guinea; spud of Stanley-2 well expected late November 2010."
This WILL have a positive effect on NGE if they are successful at Stanley. This could be the traders coming in to support the sp.
Not sure if you can compare NGE with HZN (producing) and CUE.
HZN Cash on Hand Sept 30th _ $26,389Mil Debt _ $18,297Mil Net cash_ $8,092Mil
NGE Cash of hand Sept 30th _ $14,898Mil A$25million Equity Facility ( lets hope they don't us it)
CUE Cash on Hand $36Mil Revenue A$11.62 million
Probably apples and oranges.
It really sounds to me like the focus is going to be on PPL's 268 and 269. They really get quite a mention in the quaterly. Especially the Sepalosiphon Prospect.
I find this reassuring also...
"Talisman has stated that they consider PPL268 and PPL269 to be prized licences as part of their gas aggregation strategy in the Western Province of PNG. It is believed the licences hold a Mean Prospective Resource of >2 TCF of gas in PPL 268 and >7 TCF of gas in PPL 269."
2011 is going to be GREAT!
Just watch the Stanley drilling s/t.
NGE Price at posting:
13.5¢ Sentiment: LT Buy Disclosure: Held
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