Stlamc, I think its mainly 2, a little of one and not 3 as the LS is still to be tested(as of mid last week).
NSA is having a major facilities upgrade to reduce water production and to improve overall production. What all that costs I have no idea but it won't be cheap. They also need to drill a new water disposal well at NSA when the permit comes in. Thats probably 300-500K.
No doubt Paloma has chewed up funds, particularly the two deep wells and the ongoing testing.
The new acreage is anyones guess while most of the 12,000 acres remain confidential. At this stage NSA, Glau and Rico only represent about 1000 acres by area so theres a lot to come in terms of the 12,000 acres shown as controlled by Neon on Neons website.
This play seems a pure land play rather than any company or asset acquisition.
Neon has said in releases many times they are always on the lookout for CA deals so something more may be brewing as far as an existing asset or small company.
NEN Price at posting:
29.5¢ Sentiment: LT Buy Disclosure: Held
