NEO cant drill a well and is dishonest enough to raise funds on...

NEO cant drill a well and is dishonest enough to raise funds on the pretence of June/July drilling.

Please explain Mr Mitchell...

Fund the Company’s 50% working interest in drilling Guijarral Hills #1, a well proposed
to be drilled in the San Joaquin Joint Venture. The Guijarral Hills #1 well will target oil
sands in the Eocene Gatchell sandstone on the plunge of the Coalinga Anticline. The
Prospect has a total P50 estimate of 5 million barrels. The well will also target
potential Leda sands as secondary objectives. The well is expected to be spudded in
June and will be drilled to depth of 10,600ft. The Company’s share of dry hole costs
are estimated to be US$1.2m.

Fund the Company’s 50% working interest in drilling North Kettlemen #1, the second
well proposed to be drilled in the San Joaquin Joint Venture. The North Kettlemen #1
well will target oil sands in the Oiligocene Leda sandstone on the southwest flank of
the Coalinga Anticline. The Prospect has a total P50 estimate of 10 million barrels. The
well will also target potential Gatchell sands as secondary objectives at depth. The well
is expected to be spudded in July and will be drilled to depth of 11,600 ft. The
Company’s share of dry hole costs are estimated to be US$1.2m.