currently evaluating a number of opportunitie

Might explain the raise in the SP, still a good little company and shares being accumulated

NEN are currently evaluating a number of opportunities that
are consistent with the Company’s strategy of acquiring quality assets at a high equity level and relatively low entry cost, providing the opportunity to “farm down” to de-­- risk prospects via a funded, technically sound work program.

With a strong board and management team, cash on the balance sheet and a number of options available to address Neon’s obligation regarding cost over-­-runs resulting from the Vietnam drilling program, the Company is confident that they will successfully come through this challenging period and create new opportunities for long term shareholder value creation.

Neon has no urgent requirement to raise funds. However, like all junior E&P companies capital will be required in
the medium term as the Company looks to develop and grow
their portfolio of opportunities.