TShirt I understand that NEN has an active watch on at least one...

TShirt I understand that NEN has an active watch on at least one other AU listed O&G play, and while this is not something they have as an active 'must do' they do keep an eye on what is happening.

You make an interesting suggestion re what to do with the $$$ under a Paloma sale scenario.

One of the main reasons I have invested in NEN is the very detailed way in which Ken and his team seek to minimise risk to the company both through the farm out of sites and the geographical mix of assets. When talking to the company you get the strong impression that while they want every drill programme to be successful (and work very hard to make sure they are) they are not prepared to risk too much of the company on any one discovery!!

As such any sale of Paloma would, I think, be only undertaken if a very strong price was offered and that acquisition of other assets to balance the portfolio would be part of the bigger deal.

Ken and the rest of the team are determined to make it big, everything they are doing is consistent with that aim. The comment that stapleman shared with us from his conversation with the CFO sums it up, they want to be successful and do not want to dilute current shareholders, which include themselves (which will be even bigger once the current round of management options are exercised in a few months).