yeah ed i'm with ya, but another JV or farm-in is plausible instead of a $5k retail raising or something similar to "sophisticated investor" grab.
3 of the 6 licenses are up for spudding over the next 6-12 months, so by mid next year, we should have drilled at least 2 of them (hopefully!) of which one will be 267, still 100% owned by NGE. any success in either of them should see a strong re-rating and potential corporate activity. commercial viability for 267 will set the stage, and any discoveries in 268 and 269 will be the catalyst for NGE being taken over IMO. let's not forget that NGE can maintain 50% in both these licenses by contributing to a second and third well, meaning that if they were taken over, the new parent entity would be able to participate @ 50%...correct me if i'm wrong.
my call is that by this time next year, NGE will be eaten up by one of the large players in the region, and there will be a bidding war for the assets...assuming commercial discoveries of course...have a look at the board of directors...they are all deal makers, not potential oil barons!!!
NGE Price at posting:
15.5¢ Sentiment: LT Buy Disclosure: Held
