nothing has changed, page-13

Dear TShirt,

I am reminded of The Police's song 'Don't Stand So Close To Me' when reading the Neon posts. In particular the words,

"Temptation, frustration
So bad it makes him cry
Wet bus stop, she's waiting
His car is warm and dry"

I imagine other holders like me are in the red with their holding. I am not too phased at this point in time. The price will drift until concrete news is announced, that is nature and understandable.

I am surprised that a few holders expect a flurry of news on the basis that there are a number of projects on the go. It was clear from the Paloma announcement that the project will not resolve easily or quickly. It was made clear from a company update that the Vietnam projects will really start to progress this quarter and next.

The Glau 2D capture is on foot and the NSA water disposal well is coming online in the near term. I always believe that one must distinguish between positively bad news and the lack of news. In NEN's case, the next two to three quarters will set the tone for the next couple of years in my view. One must remember that NEN is an explorer for the main part and producer for the minor part. It is hoped with some good news the explorer status will turn to full on producer status- but we know that takes time.

From my position I am inclined to buy more shares at these prices. I cannot claim that fundamentally the company is worse off today than it was when the price was say 30c. I saw value then and with the absence of bad news don't I have to find more value now at 18c? I flirted with buying more shares at 25c, I am glad I didn't. 18c, well that is starting to get into very cheap territory considering the potential upside move that might occur on the back of seriously positive news.

The hedonists amongst us demand news like a junkie demands gear. When a junkie doesn't get the gear they become erratic and unsettled. I understand the legitimate concern that a lack of news causes gaps in knowledge leading to investors becoming agitated and uneasy. However, isn't the answer to wait until all the projects we know of start to unravel and reveal their true selves?

That is, NSA, Glau, PV, Paloma, Vietnam, and Indonesia. If there is no good news tending towards improved production/advancement on these projects then of course examination of the company's future and value from a shareholder's perspective is warranted, but aren't the current sellers simply selling themselves short by not hanging around to hear the news? With news expected on a number of projects in the near term, aren't the sellers overlooking the fact that we are closer to news on progress rather than a further 2 months of no news like we have endured? Put another way, aren't we closer to news than further away from news? If we are, why wouldn't you keep holding?

What I don't understand is the ground hasn't changed, the oil price is still around $90 a barrel yet a lot of store is placed in the passing of time and a lack of news. Yet from a psoitive view you could only suggest that even without news the company is advancing. If you argue that the company is advancing to announce bad news and the basis for that is the lack of positive news to date, that is a simplification of logic. The answer is that you never knew when news would come (whether positive or negative) so why does the passing of a couple of months cause you to decide to sell? Does the passing of time equate with a probable result of negative news?

Am I overthinking why investors act they way they do, or simply am I a fool?