They expect North San Ardo operating costs to decline further as production improves and well costs normalise.
With Glau, they are warning that exploration is in its infancy and there is high risk involved, so temper expectations about it for now.
With Kutei Basin, they summarised the activities that NEN is currently conducting. They did highlight that 12 billion of oil equivalent barrels has been discovered offshore there.
With Vietnam, they are excited about the potential of it as we all are and watching it with keen interest.
And finally their recommendation has also changed to the following:
'As a consequence, we have changed our recommendation on Neon Energy to a buy for all Members who currently have no exposure to the company in their portfolio.'
NEN Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
