news in n/c, page-19

re: new support//new ann from neo Hi guys - I'm back from a terrific break over Easter.
Ignoring all the bull that's been going on - everyone make your own minds up -
BUT NEO posted an ann after the OPL ann that put us into a pre-open. Their wording is a bit different from OPLO's ann - it was just over half an hour ago - and please note meerpuss that there has never been a moments doubt in the companies' mind that they WILL be commercial gas producers soon.
Forget the bloody oil everyone - there is plenty of money and profit and rise in SP for gas!!

Here is the NEO ann:
29 March 2005
Companies Announcement Office
Australian Stock Exchange Limited
20 Bond Street
SYDNEY NSW 2000
By e-lodgement
JACK HAMAR 2-13 WELL – A SIGNIFICANT GAS DISCOVERY
Nuenco NL (“NEO”) is very pleased to announce that the Jack Hamar 2-13 directional well has penetrated all shallow targets before total depth was called at 4,439 feet.
The partners are very happy with this well which made rapid progress through sand sections several hundred feet thick where drilling breaks were accompanied by off-scale gas shows on the mud log. Electronic logs have been run and our analysis shows the well encountered multiple separate hydrocarbon bearing reservoir zones distributed over more than 2,000 feet. Two unexpected faults were also encountered, which has resulted in shallower gas sands being present in 2-13 that were not present in 1-13. The partners are now assessing the completion and testing programs for both the 1-13 and 2-13 wells and the operator is considering drilling J.H. 3-13 to the northwest of the pad in order to target the thick gas section found in 2-13, and to establish commercial production.
Well status at 9:00am WST (Australia) on 29 March 2005:
Spud Date: 10:30 hours 16 March 2005 California USA 14:30 hours (2:30pm) 17 March WST Australia
Current Operations: Well drilled to TD, electronic logs run, casing set and cemented, parties developing testing program
Operators: Nahabedian Exploration Group LLC
Managing Director Anthony Kain noted:
What really pleased me about this well was the thickening sand section encountered as we headed back into the centre of our permits. The results off the mud log with off scale gas shows accompanying these plus 200 and plus 300 foot sand sections are outstanding which we may well seek to further understand with 3D seismic to define the trap we are starting to identify with these section 13 wells. Every well we have drilled so far in Lost Hills is a
discovery which we have to test by opening up the respective wells but three out of three to now is promising to say the least. The testing will have to await the drilling of J.H 3-13 (since the drilling rig will be covering up the well heads of 1-13 and 2-13) but it will be underway soon with the objective of proving up a substantial gas discovery in our significant acreage position at Southeast Lost Hills (the current plan is to spud 3-13 within the next few days).
The current participants in the Jack Hamar joint venture are:
• Nuenco LLC 37.5%
• Orchard Petroleum Inc 37.5%
• Nahabedian Exploration Group LLC 25%
Yours faithfully
Peter Landau
Director/Secretary
The geological information included in this announcement is the technical assessment of the available information by Mr Jack West, a qualified geologist employed as a technical consultant to the Company. Jack has practiced as a geologist in the petroleum industry in California for 44 years.
Please address any queries you have to Office Manager Lisa Mclean at Nuenco on +61 (0)8 9388 8431 and she will address these to Anthony Kain so he may either contact you or come back with his comments. Further, please go to www.nuenco.com for materials on our activities and recent investor presentations.