news in n/c, page-28

neo- spp underwritten ??? Hi,

Spoke to Anthony Kain this arvo and his response was:

a) SPP will be oversubscribed - he seemed very confident. When I asked what if it is not - he mentioned that it is underwritten - This is the firsttime I heard it is underwritten - Don't they have to disclose it to the market if it is underwritten.

b) He mentioned that only 2.5 million will be raised and there wont be any over subscriptions.

c) The reason they are not disclosing more info is - that the area they are drilling is very close to someone's acreage and they are worried that gas may be stolen by other parties if depth and sand types are released.

d) On the SP front, he mentioned that the shareholders will be amply rewarded if they are patient.

He seemed very bullish and mentioned they have released enough information without hyping it. He mentioned that 10 to 20 BCF per zone is realistic.

Comments Please!!!