This is a terrible deal for the owners of NSE, the shareholders, who are expected to accept the advice of their directors on a critical tie up and deal in the US, (where they have no experience) to bring in cash to fund the Australian operation.
I have major problems with the US deal given the lack of detailed information and history of the prospect to enable any shareholder to determine whether it has any chance of financial viability. ( and they talk about decreasing the risk !)
If this acreage was a good prospect, I would have expected a flood of information along the lines that "cmonaussie" is persuing, and he deserves our thanks.
The lack of information has me concerned that this field (over which we will have no control) may never be cash flow positive, but simply build up debt to the point we forfeit our company.
Disclaimer: These are my thoughts only and are not intended as advice. DYOR
NSE Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
