NSE 0.00% 0.4¢ new standard energy limited

Terrible result in the Canning after such a good farmout to the...

  1. 6,650 Posts.
    Terrible result in the Canning after such a good farmout to the majors.

    Should have been enough funds to drill three wells.

    But due to should I say inexperience (being polite) they

    1, Completed one well but failed to core the source rock which was the sole aim of the well.

    2, Second well was lost immediately after they completed drilling the massive salt layer leaving over 1,500m of drill pipe and BHA in the hole. Primary source rock target was not reached.

    3, Third well not drilled due to enormous cost over runs drilling the first two.

    Then major decide to just give there acreage back for nothing to NSE after spending $30 million!

    Makes you cry!!

    Would I buy here, nope better opportunities elsewhere, but its worth keeping an eye on as they do tend to pull a rabbit of a hat, such as the Canning farmout, the farmout of the Cooper land.

    So there might still be a future for NSE.
 
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