There have been some interesting comments over on GGP.I...

There have been some interesting comments over on GGP.
I apologise to the poster spawk for copying this post of his but it is interesting as it would have implications for NEO if it proves correct.

So apologies to spawk but here is what he posted :

"While browsing a UK stock forum earlier today on the Pantheon thread I found a brief reference to a takeover rumour doing the rounds. The poster was referring to 'speculation' on a US forum which suggests the project vendor is keen to buy out all the other JV members. That comment rang a bell so I dug out the 'Speculator' (Hasselhoff) story of early September; I recall him making similar comments. Here's what he said:

"Is the Bullseye operator a potential target?
I hear there is speculation in the US that a hedge fund maybe considering a plunge on operator Golden Gate Petroleum.
There is nothing apparent at this stage to substantiate this speculation but, the said fund — New York-based Eastern Advisors — already holds a 20% interest in the drilling syndicate PLUS a 17 percent holding in GGP.
According to the chatter, if the forthcoming flow tests confirm the log-test estimates, a bid in the vicinity of 70c a share for GGP could eventuate. GGP closed last week at 39.5c. Such a speculative bid would most likely be expected before the planned spudding of a second, deeper, well to test the so-far untapped Cib Haz sands below the most recent well."

I'd rate 70c as opportunistic, and I'd certainly not sell into a takeover before the J-2 well had produced a definite outcome. If they are keen to buy up the JV before the Cib Haz test they must be pretty confident that it has the goods."

Now remember that that article was a few months ago and it is pure speculation. But remember what happened to Orchard Petroleum when it started to bring in the goods at South Belridge.

That article also clears up who Eastern Advisors is and they are, as I suspected, the vendors of Bullseye.