NEO nuenco nl

rakia, you are right, the delays suck, page-2

  1. 1,731 Posts.
    I can understand your hurt on the oppies thats why the plan B if they fail to exercise. I would hate to be holding oppies myself as it will go down to the wire.

    But the heads are going to kick on. Here is my post from last week.

    keeping the faith- holding
    Posted 25/01/06 13:56 - 419 reads
    Posted by charry3
    IP 60.226.xxx.xxx
    Post #878154 - start of thread - splitview

    Just got off the phone to KAIN. He called me 3 times yesterday
    but battery dead, just got me know in a meeting break I am having. I am
    advising what he said. Nothing illegal no insider stuff just optimism.

    He does talk in riddles and can't tie him down re placement price says
    it will be fair with 2 mill$ to oppie holders and $2mill$ to
    shareholders.

    Said those bailing now will be sorry as we have 6 wells and a gas
    pipeline not too far off. Gas should be connected in Feb. and easement
    problem is sorted. They buyers just want to be sure NEO/OPL has
    sustainable flow rates. Says OPL did not take over as operator until 6
    January which caused delays, things are now moving well and should be an
    update in about a week, 1 week more needed in gas testing for buyers to
    be happy. They want to be sure a sustainable flow before connection. I
    said why was that not done before the pipline, he said NEO was only a
    small 25% participant then and guided by the others. Says now OPL is
    operator and NEO have more interest as joint partner now and
    underpinning Value is coming!!!

    With the oil he said it is substantial, technical people currently
    working out the size of the oil from NEO's 4000 acres of saturated and
    hydrocarbon charged monteray. The oil flow is not yet stable as have
    only fraced about 10ft of perforation, most operators and other wells
    are at 100ft perforation. NEO do not want to lose hydrocarbons as
    waste. Still getting some water and fluid pushed up at the low 10ft
    perforation which is making flows unstable. As he said plenty down
    below. Just wants to get technical advice on how to extrapilate it cost
    effectively.

    Said will update the market within a week and more news expected to be
    good before expiration of options in Feb. Said people selling out at
    this stage are stupid and thinks the worst is over and we have
    bottomed????? Well 2-13 indication is a ripper. Other minor stuff
    discussed, nothing sensative will wait for market updates.. Could not
    get tied to a placement price obviously hoping good news will send SP
    back up in Feb. and will not release sensative info. wants whole market aware not just a few. Be patient or bail its up to u guys.

    Cheers Charry



 
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