NEN 0.00% 22.0¢ neon capital ltd

excellent report card, page-26

  1. 1,869 Posts.
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    No problems kitale. I am a firm believer in HC and the benefits that come from it, so I am happy to post.

    There is something not quite right Tshirt. Either that or I am jumping to conclusions.

    On the 16th of July, in a boardroom radio interview Ken said that production rates were trending at 300 bopd.

    On the 27th of July, in the June quarterly Ken states: "During June the field achieved an average rate of production in excess of 300 bopd and at the time of writing production remains above this level" (which was July end)

    However the June quarter showed quarterly production of 244 bopd.

    On the 3rd of Sept, in the Good Oil presentation, Ken states: "300 BOPD covering Neon operating overheads"

    Then on the 29th of Oct, in the Sept quarterly, production was reported as 271 bopd (average). Additionally it shows June production at 222bopd which is IMPOSSIBLE as the June quarter reported 244.

    By all accounts I had assumed we were running at 300 bopd min. I believed it reasonable to assume this given the announcements in addition to the technicalities behind the injection/soak period.

    Did we shut in the wells for another round of steaming in the Sept quarter? Qoq shows an increase of 22%. However MoM, must of been in decline thus affecting the average Sept production to 271 bopd (rather than 300+bopd per previous announcements).

    Could 300bopd be the peak or are more tests required before a definitive answer.
 
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