I can understand your hurt on the oppies thats why the plan B if they fail to exercise. I would hate to be holding oppies myself as it will go down to the wire.
But the heads are going to kick on. Here is my post from last week.
keeping the faith- holding
Posted 25/01/06 13:56 - 419 reads
Posted by charry3
IP 60.226.xxx.xxx
Post #878154 - start of thread - splitview
Just got off the phone to KAIN. He called me 3 times yesterday
but battery dead, just got me know in a meeting break I am having. I am
advising what he said. Nothing illegal no insider stuff just optimism.
He does talk in riddles and can't tie him down re placement price says
it will be fair with 2 mill$ to oppie holders and $2mill$ to
shareholders.
Said those bailing now will be sorry as we have 6 wells and a gas
pipeline not too far off. Gas should be connected in Feb. and easement
problem is sorted. They buyers just want to be sure NEO/OPL has
sustainable flow rates. Says OPL did not take over as operator until 6
January which caused delays, things are now moving well and should be an
update in about a week, 1 week more needed in gas testing for buyers to
be happy. They want to be sure a sustainable flow before connection. I
said why was that not done before the pipline, he said NEO was only a
small 25% participant then and guided by the others. Says now OPL is
operator and NEO have more interest as joint partner now and
underpinning Value is coming!!!
With the oil he said it is substantial, technical people currently
working out the size of the oil from NEO's 4000 acres of saturated and
hydrocarbon charged monteray. The oil flow is not yet stable as have
only fraced about 10ft of perforation, most operators and other wells
are at 100ft perforation. NEO do not want to lose hydrocarbons as
waste. Still getting some water and fluid pushed up at the low 10ft
perforation which is making flows unstable. As he said plenty down
below. Just wants to get technical advice on how to extrapilate it cost
effectively.
Said will update the market within a week and more news expected to be
good before expiration of options in Feb. Said people selling out at
this stage are stupid and thinks the worst is over and we have
bottomed????? Well 2-13 indication is a ripper. Other minor stuff
discussed, nothing sensative will wait for market updates.. Could not
get tied to a placement price obviously hoping good news will send SP
back up in Feb. and will not release sensative info. wants whole market aware not just a few. Be patient or bail its up to u guys.
Cheers Charry
NEO
nuenco nl
