A great read...could be bigger and better than first thought.
"Prospective reservoir zones at Cua Lo may be of superior quality to those at Dongfang, as they are believed to have been deposited in a more proximal location relative to the sediment source and are therefore likely to be coarser grained...
While the areal extent of the prospect remains broadly comparable to that assessed by NSAI, the identification of additional prospective zones from the new 3D seismic volume provides scope for the discovery of additional volumes.
Managing Director Ken Charsinsky commented “The new 3D seismic data validates Neon’s long held view regarding the potential of the Cua Lo prospect. Exploration success at Cua Lo could be transformative for Neon Energy, and as such we are excited that drilling will commence as early as late June 2013.”
NEN Price at posting:
26.5¢ Sentiment: LT Buy Disclosure: Held
