Ann: Successful Neon-2 Control Well, page-15

When they get to the FID stage, just like Patola, that's when they'll convert 2C to 2P (ie resource to reserves). Usually 1C has a higher degree of confidence, so the current figure of 1C-30 mmbbls is the one to watch. Note that its a smallish field. The distance from N2 to N1 is apprx 2km and all 3 wells intersected Oil in the Paleocene sands (ie N2: 105m, Ech-1: 70m & N1-25m). Assuming similar poro/ perm & oil properties ie API/GOR as Echidna-1 discovery, they should get a clear picture after these 2 appraisal wells. Concept selection should b the nxt thing to worry about (ie tie in to Bauna or standalone with a smaller FPSO Piranema, as an example)

With the core data from N1, WL logs & high res 3Dseis getting the 2C after 3 wells should b their priority. After that, its a cat & mouse game (i.e, go solo or farmout, Capex etc)). I hope they don't stall it for another 7 years to flow oil from Neon. Painful wait since the discovery & their farmout partners (PacRubes) troubled history.

IMO, in the future they could also look at the other side of the salt dome (ie Neon West) to see if any oil pay is present nearby when the salt dome pierced thro' the strata.

Nxt week onwards will keep an eye out on Thur/Sun night on ANP's Dynamic Panel dashboard for any change in production numbers from 21k BOPD.