nse - sold down - godd exposure to bur

New Standard Energy has been trading thinly and was sold down to 0.15 at close yesterday. It has partnered with BUR for the Wilcox project. As per the release (http://www.asx.com.au/asxpdf/20100406/pdf/31pmh0l9pdkn21.pdf) for the first Wilcox well, the participants are:

BUR - 38%
AKG - 16.5%
NSE - 32.5%
Others 13%

And I think the NSE participation is slightly greater for W2.

I jumped on with the low prices yesterday as it gives exposure to the Wilcox wells and exploration in the Canning Basin in Australia for shale gas, especially with the amount of interest that shale gas is generating.