Why try? - Well it would cost another significant multi million dollar sum (what $6mil maybe) for what I see as a higher risk throw of the dice, when in fact we already have two high risk throws underway now. Its clear we don't have the expertise to drill it so lets wait until the guy with the experience fronts up, or we acquire it through our own experts.
What we need is more low risk production to balance out the risk profile, and that means NSA and to a certain degree Glau exploration.
What I would be more keen on is them holding onto the cash they have, accessing the Paloma gas they have if it can be done efficiently and has a less than 12 months payback and drill NSA and Glau with any disposable $ they have.
NEN Price at posting:
27.0¢ Sentiment: LT Buy Disclosure: Held