what the hell is happening with this share??!!, page-6

I took a 50% loss on NSE by selling out on 12th Sept at 12c .

Didn't want to be holding this one as Christmas approaches and had already left my decision late .

I was not satisfied with the explanation we got with the aborted Canning Basin campaign , especially the second drill .

The massive change of direction by the company invalidated my original rationale for investing

Eagle Ford wells are just too much capex for a company of this size at anything more than 1/8th - 1/4 interest . All it takes is a couple of disappointing wells in succession .

NSE are getting into oil just as the smart money (MHR) is moving into natural gas .

I may buy back in if they do decide to drill the Merlinleigh or decide to resume exploration in the Canning or perhaps surprisingly in light of what I've said if Elixir ever get to drilling in France .

Good luck to those brave folk who continue to hold .