Its a well structured deal that sees Neon retain operator status yet gets all seismic paid for and a cool $750,000US in the bank for past costs.
I like the comments regarding use of cash "it enables the company to allocate capital towards identified near term expansion opportunities in California, plus further growth in SE Asia."
Roll on Paris Valley and NSA.
Its getting busy and thats great.
NEN Price at posting:
12.0¢ Sentiment: LT Buy Disclosure: Held