sold down

The top two shareholders have sold down their holdings they are Azur and Alimold. This was done prior to the plavement at .035c seems like inside information to me. If you do not know the owner of Alimold it is Tom Booth from Etrade!!! I think he is the MD there.

I wonder if they have both picked up the placement on the other side. The 38m shares with attaching free option at a conversion of .06c means the real issue price if they are to convert is 0.0475c.

NEO is pushing ahead to production and with oil coming to the surface naturally at 1400psi they could be sitting on what maybe a substantial oil find as well as the gas. I suppose once the cash starts flowing further testing of the oil will be carried out as this is at much deeper levels.

OPL has valued the propject at $300m+ and with NEO owning 37.5 % it would seem the NEO price is fairly well under valued. This vale does not include any of the oil upside.

With gas & oil prices at all time highs the upside for NEO seems quite bullish.

I am a holder of stock and I am accumulating more shares as we go I believe NEO is ready to move. Kain is back in Oz and I believe will start to promote the stock to instos. The process has already begun in the UK hence the placement.

There were rumors that OPL would make a bid for NEO however I believe they do not have the cash for such a bid and why would they want to bid when they are the ones that gave NEO the interest.