Neon will move along nicely however,, this is dependent upon the P1&2 reserves. I was looking at the Bell Potter report and they have if I recall correctly 50% risked at 20MMBBoe. All indicators thus far are suggesting that it will be well above this and in the vicinity of the unrisked amount that was noted for Paloma in the report that Bell Potter released and this was much more than what has been bandied about.
Neon and the share price it will get to will be measured against reserves in the first instance and by all accounts this will be well in excess of the contingent resource that Neon have released.
I am hopeful that we will get some inintial numbers next week at the latest.
NEN Price at posting:
30.0¢ Sentiment: LT Buy Disclosure: Held
