The madness with the market is exemplified in the increase in the shareprice of PPP on the back of the rig procurement. Clearly, NEN is to announce 2 rig contracts. Why should the company price rise on that news alone? It is not unexpected and it is highly probable. The price will drift on a lack of news.
My whole thesis is that we all know the expected stages of progression. Timing is one uncertainty but for me that isn't a great concern. The other only uncertainty I consider relevant is barren earth. If there is oil and gas that can be commercially extracted funding ought to be assured.
I won't be selling a share. Not one. I sometimes wonder whether the market thinks explorers like NEN are running a simple lemonade stand. Time and money are the key elements to it all.
GLTA
NEN Price at posting:
22.0¢ Sentiment: LT Buy Disclosure: Held
