"The bottom line here, is that the markets have taken a huge hit across the board, and nOt ios suffering along with the rest. DO NOT try and calculate what the market believes E1 is worth based on the current SP, because th current SP/market cap exist in abnormally depressed environment. If it was 2007 before of all the housing panic, and oil fears, NOT would have easily been trading in the $7 - 10 range based on what we know now. Look at the charts of many other companies whom have continued to advance their exploration or development operations, with no bad news, and yet most are trading at huge discount to last years prices.

This is a depressed market, and its summer. NOT is not even close to reasonably valued, so stop trying rationalize the current market cap."

Based on the above, it is also legitimate to assume that, being the summer, and being that the market is depressed, with many prophesies of more serious decline, regardless of what ever good news comes to us, the sp may not be as likely to make NOT investors as happy as they'd like to be. Remember the comments about how NOT would participate in a commodities bubble this summer and would not be affected by the market? .... or similar words. I'd very much like to be surprised by a move in the sp very soon and still hope to be, but I'm also weathered by NOT history of "soon to be expected wealth" and am much more inclined to have a more level outlook. Surprises can happen at any time, but surprises are exactly as the term implies, unexpected, not predictable, out of the blue and are the result of many factors which is why we can't predict them and don't know about them until they happen. In the meantime we wish for them and dream up all manner of possibilities to entertain ourselves while we wait.

This is not a bash, it is just realism. I firmly believe NOT is the place to be and a lot of people are going to be sorry they didn't buy in a very big way. We know the geological facts as reported by NOT and that they bode extremely well for the future. Now we need the correct chemistry of market sentiment and news to bring about the party.