Stapleman,from what I've seen of the DOGGR reports, what you say is what seems to happen...ie that permit issue is a formality at that time.
As far as I know there is no contingent resource for the NSA area. The entire resource is classified as proven as far as I understand. It may be that when the field enhancements are fully in place the recovery factor goes up. Right now our 1P reserves are based on 30% recovery whereas neighbours like Chevron are achieving up to 60% with thermal recovery at the nearby San Ardo field.
Paloma will be interesting. Assuming success it is likely we will get a new resource announcement. KC is hoping to shift some or all of the current contingent resource to various categories of reserves. Given PD-2 was drilled after the previous resource announcement it is at least likely that will be upgraded given the extra new information from PD-2.
Any update of resources could also include Lower Antelope figures based both on PD-2 results and the ongoing PD-1 testing.
The independent reserve/resource advisor has been working closely with Neon so there should be little in the way of a time delay in this information coming from them.
How are the knees bionic-man?
NEN Price at posting:
25.0¢ Sentiment: LT Buy Disclosure: Held
