I would say that it presently needs about another $4 million.
That is based on its target for the Rights issue which aimed for just over $6 million and managed to get in about $ 2 million so far.
NEO is still looking to place the remainder before about April 15. If that is successful then it should not need any more capital till "next time".
What you and I and all other shareholders have got to hope is that NEO and Livingstone are successful in (a) getting the gas available from JH 3-13 into a pipeline and sold
and (b) prove up other supplies from JH 1-13 and JH 2-13 to add to 3-13.
That will supply cashflow and lessen the need for capital raisings. But alternatively make capital raisings easier to achieve because there will be a successful money generating operation working.
While the track history of NEO has been very disappointing there are glimmers of hope for this year. It is easy to slag it off but I prefer to still see the possibility there for NEO to come good and turn things round dramatically this year.
There are a number of possibilities for that to happen. After all we are "speculating" that NEO is going to to strike commercial oil and / or gas and thereby see a dramatic sp rise. If we are speculating for that to happen we can hardly slag it off because so far it has not quite produced the goods. There are NO GUARANTEES with a "speculative stock" despite the hype that sometimes builds around such a stock.
I have been involved with NZO and PPP for years (20 odd years) and it is only now that they are producing the real goods.
Just got to be patient and look at the bigger picture
NEO
nuenco nl
