spp announcement gives hints "The recent drilling at Jack Hamar...

spp announcement gives hints "The recent drilling at Jack Hamar 1-13 found elevated gas levels and hydrocarbon shows not seen in Jack Hamar
1-1. The Company and its consultants have isolated up to five gas reservoirs for reserve testing.
Nuenco is currently at an exciting stage. Buoyed by the prospect of extending the giant Monterey field to the
north, the Company continues to conducting a multi well program targeting new potential for relatively
untested blocks on the well established productive anticline that extends into the giant Lost Hills fields through
the Company’s acreage. The potential in the targeted reservoirs is not insignificant in the current market place
(where the value attached to gas in the ground can be as high as US$3.00 per mcf). At this early testing stage,
operator estimates for the potential in these reservoirs range from 10 to 20 bcf in the shallow zones to several
hundred bcf in the deeper zones."

5 targets at 10-20Bcf minimum. Means absolute minimum of 50Bcf as absolute worst case scenario on what's already been found. At $3/mcf in ground my estimates put this at around the $70M AUD mark for NEO, 3 times the current market cap.

And that's the minimum. All points open for further analysis/discussion/accusations of ramping etc.