Oil and gas exploration is like putting a puzzle together but you can't fully see what's there. There is a large degree of trust in data and results that leads to a higher degree of probability in success.
The larger the resource potential the higher the level of risk of failure both in cost and COS. Looking at the results so far we have a good COS that we hear a flow rate in the economic range if we factor in the well results on the Chinese fields. The question so far is the net to gross, flow rates and pressure, we should expect that Neon knows the net and the preliminary flow rate if what we assume is correct.
I would have hoped for the net to be announced before the flow rates to keep the stock ticking along. But none the less this week we should have a definitive result.
Best of luck for all.
NEN Price at posting:
28.0¢ Sentiment: ST Buy Disclosure: Held
