call to neon, page-11

This is my first post, so here goes. Agree mostly with rickii78.

From the information I gathered from calling the company I can see no announcement forthcoming until the following is ALL finalised:
1. They can work out with their partners the actual costs to them for the drilling. This is still in negotiation and could be for some time. I did not ask what the reasoning was and I would not have expected an answer. Obviously the costs are high but that is not news to anyone.
2. There also seems to be some other negotiations happening regarding asset sales (maybe) to help fund the company going forward but these are not advanced either.

What does all this mean, nothing much. The company put a lot of faith into the Vietnam project and it has come up with 2 wells that are not commercial - that is no-one's fault. Could they have handled it better? Well, maybe. Is Vietnam still viable? It probably could be but that will be up to the partners more than Neon to decide the next move. There is oil and gas there and the information regarding the drilling is still being analysed and again this will take time.

Is it a major setback for the company, the share price indicates that to be the case, but it seems very premature to write them off just yet. I could argue the share price is far too low but until any announcement is forthcoming it is a pointless argument.
At the end of the day we, the shareholders/institutions/traders drove the price to unsustainable highs based on overly positive speculation. Now negative sentiment has driven it into the ground.
This has happened a thousand times before and I will happen again, it is the mystery of the sharemarket!

So we may get an announcement in a day or two but it could be weeks, even months away. The news could be bad but then again it could be far better than the doom prophets predict. Either way the company will be in a holding pattern for a while yet.

And finally are those in charge to blame? Someone in a post said this was the perfect storm and they, along with shareholders, got caught up in it. In hindsight it could have been handled far better I agree but the light still flickers and the assets are still there although somewhat reduced in expectation.

And yes, patience is a virtue.............