My first NEO purchases were were made as drilling commenced at SELH. I continued to buy up further as the news was delivered regarding discoveries and near term production.
The average price was around 4.2 cents!
Post consolidation that would equate to 42 cents.
Current market price post consolidation = 6.2 cents.
Current Preconsolidation price = 0.62 cents.
An outlay of $4200 + brokerage for 100000 shares would today be 10000 shares worth $620 minus cost of brokerage to sell.
Preconsolidation there was about a billion shares although at the time I started buying there were far less.
At the beginning of post consolidation there were about 100 million heads on market.
After current raising in progress there will be about 300 million heads on market.
Surf acreage, citrus farm out, option selling, gas sales, well testing, opl gone, pay increases, multiple companies, styled announcements, unlocking of potential, locality, broken rigs, pipe line, undervalued, high gas prices, Anzoil nl ,etc
I see similarities to recent NEO announcements in the below article.
Is there any relationship?
http://www.gasandoil.com/goc/discover/dix92448.htm
Anzoil finds gas in Hanoi Basin
06-05-99 Western Australian-based Anzoil NL has made a significant breakthrough in its plans to become a player in Vietnam with the announcement of the discovery of a sizable gas find in the Hanoi Basin.
The junior oil and gas explorer has a strong belief in the potential for the developing a gas market in Vietnam and has concentrated its efforts on that country for the past few years.
The company has been able to build a solid exploration base and a number of potential power station customers and was only in the need of the proven reserves to take the next step forward.
And it now appears to be on the verge of solving that situation with the drilling of the D14-4 appraisal well.
Drilled to its planned depth of 3800 metres, D14-4 has encountered more than 100 metres of gas bearing sandstone reservoirs.
D14-4 is the first well in a three well appraisal programme, and Anzoil said it and joint venture partner, French company Maurel & Prom, are now planning to run multiple zone production tests.
DYOR and lots of it!
NEO
nuenco nl
comments regarding substantial holders, page-8
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