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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