The trading pattern: As long as the share price stays above 0.30 cents, which is the current support then the trend is strong and in place.
What do we have to look forward to?
1. Qrtly report due this Friday or the following Tuesday the 30th July. Should have some news which I believe could bring some more buyers, and maybe reach 0.40 cents.
2. Announcement on Ensco 107 arrival onsite at Block 105. Once the drill rig is in place and drilling starts, the share price will stay steady in a sideways pattern, as we wait for the trigger to be pulled---direction unknown, but hopefully upward, with great news.
3. Announcement on Paloma and partner?
4. Announcement on drilling schedule for Glau. First well to be drilled......late August 2013?
5. During the drilling of block 105, management decide to announce mid August 2013, the drilling location for block 120 at Ca Lang? (That is my guess)
Using the existing BHP drilling well 120 CX, Ca Lang gives the best chance for success.
6. More updates on the cyclic steaming process at North San Ardo, as management find an al-lied by looking back in history of two years ago, to recall what actually works. HINT: Communication, Information and Acknowledgement.
7. Good Luck.
NEN Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
