mustve been posted on? Ive overlooked itheres a repeatNuenco has...

mustve been posted on? Ive overlooked it
heres a repeat


Nuenco has new JV in San Joaquin Basin
12:03, Thursday, 19 October 2006

Sydney - Thursday - October 19: (RWE Aust Business News) - Nuenco
(ASX:NEO) has a new four-way joint venture to take over and build on the
option in 152,000 acres in the San Joaquin Basin, California, it has
acquired through a transaction with Surf.
The JV will add an exclusive option to a further 110,000 acres
and convert first 76,000 acres from an option to lease.
The package will then be 76,000 of leasehold, 76,000 of option
acreage and 110,000 of new option acreage.
The development of this position was facilitated by the
introduction of private Australian company, Maxin Investments, which
injected capital.
The terms of the JV entitle Nuenco to acquire a 90pc working
interest in two new land blocks for no additional consideration, the
remaining 10pc to be held by the JV, which will be carried for one well
on each block.
The project area contains an unconventional Miocene oil play
that has already produced hundreds of millions of barrels of oil and is
productive on the nearby Lost Hills structure.
The potential is estimated at 10 to 20 million barrels per block.

Nuenco shares were up 0.1 to 1.7c.
ENDS


and here is the last time we charted it..