rights offer at 2.5c stock now 3.9c, page-27

In my opinion the rights issue is in the money. GGP well looks like a dead cert...some unusual buying in GGP of late.

NEO's wells look interesting. Quarterly report refers to 2000 BOPD. If 1 of the wells hit and if we take a conservative 500 BOPD @ $60.00 barrel the revenue per annum for NEO 50% equates to over $5 mill.

If both wells hit oil then your talking a whole new story and a market cap comparable to greater than GGP.

Add to that another 280,000 acres containing prospects and we have a major player or a takeover at a very very large premium to 2.5 cents per share!

Im taking up my full rights issue.