Interesting to note that the New guinea exchange currently has NGE at 15.5 cents Australian, Also good to see some activity on the exchange. http://www.pomsox.com.pg/company_info.php?code=NGE
Also some coverage inside PNG from bspCapital "http://bspcapital.blogspot.com/2009/12/market-commentaries.html"
"New Guinea Energy Ltd New Guinea Energy (NGE) has done a private placement with sophisticated investors to raise A$18.5 million to fund its exploration activities in the Western forelands of PNG. The stock performed with mixed results opening at 19 cents and increasing to 22.5 cents before closing lower at 15.5 cents. NGE has farmed out its PPL 267 and 268 to Talisman Energy Limited for US$55 million. The exploration areas are estimated to contain approximately 3 billion mmboe. We view this stock as a tool for growth and urge investors to be there early. Our recommendation is a BUY."
cheers
NGE Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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