uncovering undervalued oil and gas stocks-nen, page-4

How many of you that follow Neon are from the Wild West, home town of the company?

In today’s Sunday Times, as has been the case since early 2012, DJ Carmichael’s Paul Adams writes and I quote:

“Initial results from NEN’s Cua Lo-1 exploration well in Block 105, off Vietnam, are expected next week. If successful we believe shares could reach $0.40. Drilling in Block 120 is expected to start soon, which we believe will provide share price support if Cua Lo-1 results are negative. We maintain our speculative buy recommendation and price target of $0.44/sh”

As a bit of trivia information for which probably only DJ Carmichael and only a few are aware of, is that in February of 2012, Neon share price was trading at $0.44/sh, and they were giving advice as a speculative buy recommendation at this price of $0.44/sh. Now moving forward some 18 months on, and we now have a prediction on a successful outcome of Cua Lo-1 well to bring us back to the $0.44/sh level where it all began.

If you look at the chart, his prediction on a successful outcome could be right on the money. The chart shows the first horse shoe pattern $0.18/sh to $0.28/sh, followed by the second horse shoe pattern $0.20/sh to $0.35/sh. We are now at the bottom of the second pattern $0.23 to, ready to begin hopefully the third leg up to $0.44/sh.
The most important aspect is that many players in the market place are taking a keen interest in Neon’s current drilling program.

Catabear great detective work in highlighting the Finance News Network Interview on the summary out of the RUI’s Good Oil conference held here in the Wild West gets the blood following with excitement and expectation, and as long as you all carry around with you Tom Cruise worry ball (Keep working those fingers into the ball) we should all be in great hands.