While I do not see no news as a -ve it is still concerning and does, whether we like it or not have a -ve impact on the market. For me any comment made by management as to time lines should be followed up by them when missed and I cannot see any counter arguement to this that is substantive to this view.
As has been mentioned before they are a good management team with excellent prospects. My take on this is that the testing has taken longer because of equipment availability. Also I suspect that the announcement that will be released will have a fair bit of meat on it and will reflect a substantial jump in SP. As I recall the pressures need to be balanced to ensure the best possible return on flow rates etc. The shale play will be a longer to market proposition however, this will be included on the P1,2 & 3 and again if the reporting is accurate should be substantial as to P1,2 given it covers the whole site or at a minimum of 740 acres approximately. Either way it adds to many BOPD.
I will look forward to comment to those that were there today.
NEN Price at posting:
30.0¢ Sentiment: LT Buy Disclosure: Held
