Excerpt formm the Bell Potter reoprt:"Block 105 in June, Block...

Excerpt formm the Bell Potter reoprt:

"Block 105 in June, Block 120 in August. NEN’s March quarterly report states that rig contracts will be signed imminently, with the Cua Lo prospect in Block 105 due to commence in June. The 3D seismic has confirmed an upside target of 13.9Tcf, and a location has been chosen. The Block 120 drilling is scheduled for August, using a semi-submersible rig due to greater water depths. Prospect selection has not been finalised, and includes the Ca Lang (1.3B bbl upside), Rua Bien (1.7B bbl upside) and a new stratigraphic prospect generated from the recent 3D seismic. NEN is essentially free carried in these two wells, with a 25% interest potentially worth over $1/share in the mid case success scenarios, and much more if the upside potential is realised."

Looks to me as though the rig is agreed to and scheduled, just need to sign the agreement.

Not hat is is befroe time but the market will get hold of that and it will run. I am not counting the gold but there is more than a strong liklihood of finding gas, As far as the oil goes well that has already been confimed by BHP. NEN has the potential to be another Karoon Gas.

Dow up lat night looks good for today expecially given that it is Friday. Haveagoodwekend all!