I have been looking at the announcement of June 21 and I think this is the most informative release by NEN management to date covering Paloma. This report is very suggestive of substantial oil discoveries covering all of paloma's acerage.
I have been having a look at the SP moving downwards and while not happy I am not loosing sleep over it. What I am cocerned about is if the results of the testing and if the P1 & P2 come in as we have discussed on HC at this price and even at $1or so, I am of the view that NEN will be a take over target. I guess the only option to side-step this occuring wold be to have a buyin partner to Paloma.
Do you ahve any thoughts on this?
NEN Price at posting:
28.5¢ Sentiment: LT Buy Disclosure: Held