The key right now is to get a successful test of the Fruitvale/LS behind us and the rest will look after itself.
To date Neon has been painfully shy at flying the flag but they got over that yesterday by showing whats at stake at Paloma in terms of potential flow rates.
5600boepd for the conventional wells far exceeded my thinking. I was hopeful of 1000boepd, stretching to maybe 2000boepd.
As you say Paloma was never priced for this to happen, either risked or unrisked.
NEN Price at posting:
31.0¢ Sentiment: LT Buy Disclosure: Held