a correction

Whoops - I'll be tarred and feathered !!!!!!

Realised tonight that I made a statement in error about NEO's involvement with the SJJV in post number 2684224.

Made a slip in talking about NEO having a 10% share of the SJJV. Got distracted by NEO having a 10% share in the Kreyenhagen oil field project.

Of course, NEO's share of the SJJV is 50 %. The other 50% is held by the NEG group.
The aim, according to the comment in the 2007 Dec Quart report, is to "farm out the exploration cost of the 2008 wells on a 2 for 1 basis to achieve a free carry on the drilling of these wells while retaining a significant working interest in a discovery (in Nuenco's case a 25% working interest)"

Now I presume that to mean that the offer would be made to allow another company/or companies to gain say 50% total interest (25% from NEO and 25% from NEG) in the prospect if they contributed the cost of drilling the well. So NEO would be free carried but gain 25% of any successful oil/gas stike.
That would apply to all 3 chosen SJJV prospects but obviously could involve different companies farming into each prospect.

So apologies for that "slip of the tongue" about the % share in SJJV