While I can see your concern based on price reggie, 2m volume is pretty standard volume for NEN so moves down on modest volume like this do not indicate anything to me at this stage. Massive volume would obviously be a different story. I keep thinking about announcement of vietnam farm-in partner and cash in the bank with a couple of free-carried wells ahead and more acerage in US to explore with production bumped up recently and oil price heading north. The story is very much intact from current market info and being de-risked through production, diversification and farm-ins. Follow the volume I reckon
NEN Price at posting:
42.0¢ Sentiment: Buy Disclosure: Held
