Everyone must manage risk in the best way for their circumstances. I am very happy to be in Neon in this market, not because they are brilliant but because the risk/reward equation is low for a junior oiler with very active projects.
Paloma on pre drill estimates (which seem to have been exceeded) would give Neon an extra 28MB in 2P reserves. Thats roughly 7.5X our producing NSA field which tends to be valued by brokers around 20cps (broker range of 15-37cps).
Now this market may not recognise that value fully but even half of that would see Neon far outperform most other stocks in the time period.
Who knows, in a good market with all going well at Paloma the price on the title of this thread might be where we are headed.
For me personally, I would not want to be out of this stock right now.
NEN Price at posting:
30.2¢ Sentiment: LT Buy Disclosure: Held
