Although todays results were shiet, a loss is only a loss if shares are sold. An independent assessment of the Cua Lo-1 gas discovery suggested Block 105 was capable of hosting an estimated prospective recoverable resource best of 3,983.5 billion cubic feet of gas (BCFG). The best estimate was within a low 1,088 BCFG and a high 14,221.6 BCFG range. And the confirmation of a petroleum system may see exploration continue elsewhere in the Block. Neon has crude production assets (delivering 25,000 barrels in the September quarter) in the US which it is continuing to de-risk, and cash as at 30 September 2013 of US$18 million. Holding for now, but I can see it being a ST & Dt play thing for awhile.
NEN Price at posting:
7.2¢ Sentiment: Hold Disclosure: Held
