Below is the companys STRATEGY from the website. The TH says that the announcement is in relation to a strategic review.
Neon Energy’s principal objective is to generate superior shareholder returns through successful oil and gas exploration. The Company is committed to:
*Significant portfolio growth in Southeast Asia Acquiring high equity stakes in early stage projects, and subsequently farming down in order to fund exploration programme
*Investing the Company's funds in an efficient manner
*Maximising revenues from its producing asset in order to fund company overheads and new ventures growth
*Maturing the Californian portfolio to provide increased cashflow
*Maintaining a balanced portfolio of assets; from exploration to production, low risk to higher risk
*Aligning with quality partners
Would be nice if it was the last point being reviewed and they were aligning with a great partner
NEN Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held