If anyone has been watching the volume over the past month you...

If anyone has been watching the volume over the past month you would have noticed that the stock was sold down purposely to do the placement at 3.5c.

The sell side was loaded up and the price was driven down to 3.9c and they then announced the placement at a discount to the market. You will also not that since then the sell orders have been slowly disappearing or thinning out on the sell side. Previously the totals were all above 2m plus. Now after the placement was announced there has been large orders place on the buy side. Tom Booth has taken a hit as his Alimold took stock at 5c and he obviously has been selling below this as he has been liquidating his holding over the past 6 weeks if you look at the top 20.

The selling has obviously slowed down refer todays volume of less than 80K shares with the normal days average well above this in the 2/3m plus.

I would assume that obviously someone knew about the pending placement and liquidated their holding to either participate or to pick it up on the other side. To me the obvious next stop is a DB at 3.6c however if you note the support that has been in the market after the announcement I do not think they want it to go there.

I believe and it is only a rumour that the are looking at placing a redeemable con note and that maybe to one two or three insto's but then that is just a rumour and I would not like to put any money on it.

Further to the above I believe they have not announced any reserves due to the fact that previously in the industry they would burn off gas for many weeks and record the flow rate etc but with the gas being so high in price that is not the option they wish to pursue.

I also heard that they are presently negotiating with Shell for the sale of their gas but this could take weeks to finalise due to Shell and it long drawn out process but in the meantime that does not prohibit NEO from negotiating with other potential buyers of gas at obviously higher prices or better terms.

Once the pipeline has been completed and the hook up is finalised I am sure they will be in a position to estimate reserves, but I know that all of the companies in the immediate area have all increased theirpreviously announced reserves and some up to 2billion plus.

NEO is in the same area and I think TK is not sushing into announcing these into the market until such time as they can clearly define what they have saying this they are in the same zone as companies that have very very large reserves.

I believe the story will only get better as we go and for those who think that OPL will try and take them out I do not believe this will happen not at these levels and I think that rumour has been around for far to long.