Sherlock,That total of 150meters is significant and cannot be...

Sherlock,
That total of 150meters is significant and cannot be understated however,I am sure the is more to come off this spud. It is the 4 way closure, for laymen it is a trap of hydrocarbons and this is 97sq km which is at lead 4- 4.0 Ma and estimated by NSAI upwards of 12Tcf. This alone has thrown out any reasonable estimate of a strike price post the 105 announcement.
Add to this 120 which I personally suspect is on the money as to likelihood of hitting an a oil column. Why would you spud 10km away from a known oil column which was proven by BHP?? Even the most conservative are thinking we have a whale on the line. For us as long term holders of NEN there really is little that we do not know of NEN, it's history and management. We can even second guess the announcements to a degree as we know the management and their style so well. Add to this the quality of this forum and the skill base of the contributors and the truth is we can join the dots effectively.
As I have said before, NEN looks so much like KAR only with better early day prospects.
Opportunities like NEN you only see a couple of times in your trading career, and this I believe is one of them.
It's the best feeling being set with your holding and watching from the grandstand.