NEN 0.00% 22.0¢ neon capital ltd

kris energy update, page-30

  1. 110 Posts.
    When neon released the gas kick announcement and Kris stayed silent I wrote and asked them why.

    Kris wrote back to say their policy was to be as transparent as possible and to release clear, accurate and timely information. They also stated that while they are serious about investor communications, their intention is to build sustained long term growth for their shareholders and did not want to encourage needless price volatily through the release of speculative information.

    The implication was that they wouldn't release any conclusive announcements until they have received the test results.
    My guess is this also means the results for zones 4 and 5.

    So it seems ENI and KRIS are on the same page about this.
    If NEN were to release blow by blow announcements I imagine it could become a source of friction between partners.

    However NEN have already shown a willingness to release information not provided by their partners when they think it is material ie. delay due to a massive gas kick.

    So from my point of view not much can be read into the lack of information coming from Kris.
    But the extra update that Neon were "pleased to provide" (regarding a delay!) possibly points to it being more important to NEN than the face value of its words.
 
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