spud of condon-1 well only 3-4 weeks away !

In early September I posted that I thought that although NSE had a compelling story it was the wrong time to invest. I suggested the share price would drift lower on little or no news till later in the year when drilling was imminent. This is what has occurred.

However, we are now approaching Mid November ...I think this is an ideal time to start building a position in this stock whilst the Stock price is still low.

In fact we are so low that we are only slightly above cash backing. So investors are yet to factor in any potential of the upcoming well. This will change over the next few weeks. I suspect any announcement by the company on the Mobalisation will correspond in an uptick of buying interest as speculators start to get positioned for the drill.

So ...the spud of the Condon-1 well is only 3-4 weeks away (Early December) according the latest Qtrly. The Qtrly stated approx 2 weeks ago that the drill rig to be used for the Condon-1 well would be mobalised from Mandurah (South of Perth) to the Merlinleigh site near Carnarvon in "Late October". Now you would expect that if they announced this on the 24th of Oct that they would be fairly certain the rig was good to go within 1 week. Given there has not been an announcement of the same I can only conclude that the rig has indeed been shipped to site. Does anyone know the company who owns the rig... Perhaps a quick phone call can confirm this...

All is IMHO DYOR to Confirm.