NEN 0.00% 22.0¢ neon capital ltd

It's been bothering me for some time that announcements and the...

  1. 94 Posts.
    It's been bothering me for some time that announcements and the AGM have not referred to new resource estimates following the acquisition of the 3D information. So, yesterday i called NEN and Ian Smith kindly took my call.
    He informed me that NEN do not intend to acquire a new independent assessment for Block 105 due to the short period of time available pre-spud. He said that NEN have confirmed their understanding of the resource in the previous Block 105 Investor Announcement.

    Similarly, Ian said that NEN do not intend acquiring an independent resource assessment on the Block 120 3D data. The logic provided for this seemed a bit odd - it was that the final target would not be chosen for 2 months and therefore there would be little time available between then and the Block 120 spud. Surely the resource estimate would apply to the whole block and not just to the target?

    Personally, i was hoping that there would be a positive independent assessment which might give us some much needed marketing and a resultant boost to SP.
 
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