NEN 0.00% 22.0¢ neon capital ltd

Annnouncement on 5th of September stated that (for block...

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    Annnouncement on 5th of September stated that (for block 120):

    Pursuant to the terms of the Farmout Agreement with Eni, Neon will be carried through the drilling of the well up to a gross cost cap of US$20 million. Any costs in excess of the cost cap will be borne by the parties as per their respective working interests, which are as follows:
    Eni Vietnam BV (Operator) 50%
    Neon Energy (Song Hong) Pty Ltd 25%
    KrisEnergy (Song Hong 105) Ltd 25%.

    ===

    It is free-carried for block 120 (up to $20m).

    What is the arrangement for block 105? or what is the net-cost to NEN for production testing of Cua Lo-1 exploration well? isn't it also free-carried to certain amounts with the big oilers?

    Massive dump, over-reaction.

    I made 10 pips during the intraday swing. Bought some back at closed for another opportunistic short term punt.

    Monday's action will be interesting.


 
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