Here is the article from the AFR Published early this...

Here is the article from the AFR Published early this morning-

"Neon Lights Up The Trading Floor"

Expectations are building around emerging oil and gas company Neon Energy if recent trading in the stock is anything to go by.

Yesterday a line of 15 million Neon shares – 3.5 per cent of the company – was traded by Bell Potter at 44¢, with rumours suggesting the buyer bid for a lot more.

The tip was that it was a local institution or institutions getting set ahead of pending developments with Neon’s projects in the US and Vietnam.

Neon is due to announce results from further drilling of its Paloma Deep prospect in California’s San Joaquin Basin before the end of the year.

Last month the company confirmed the discovery of multiple hydrocarbon bearing zones and early estimates suggest they could contain more than 30 million barrels of oil.

There is also increasing talk that Neon is poised to bring a major into one or both of its Vietnamese projects, Block 105 and Block 120.

ExxonMobil recently made a discovery in the field directly to the north of Block 120, while Origin Energy, Chevron and Santos are all also in close proximity.

Bell Potter has a “buy” recommendation and a $1 price target on Neon, its No.?1 pick in the junior oil and gas sector.

Neon produced 156,920 barrels of oil from its North San Ardo field in onshore California last financial year.