Damo cheers for that report.
Ironically while it is Paloma we are currently waiting on the time taken on this project has taken us ever closer to Vietnam action which has always been hailed by the brokers as the money play.
Typically a spec oiler like Neon with elephant targets in its portfolio like Vietnam will run as news on updated seismic, drill locations and drill timetables are announced.
You only have to look at the gains made by stocks like MAD, PVD etc to see what could happen for Neon in the next say 3 months quite apart from any good result at Paloma.
Based on broker unrisked values in Vietnam of up to $8 a price rise of say 50c attributable to Vietnam as a "near" target does not seem unreasonable.
With Vietnam rig contracts and latest seismic upgrades pending this process should start in Q1 2013. A good result from Paloma, particularly but not limited to the LS test will be an added top up with near production revenues.
Patience can suck but it also has its own rewards. Roll on Q1.
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