Can't say I know General but if we are to see drilling in June/July then theres not a huge amount of time to get onboard.
Recalling the path Hardman followed maybe an indicator. HDR was a 5c company for ages. Once the drilling was announced it got legs such that by spud date it was in the low to mid 30's which it held until the discovery was announced. It then shot to around $1.10 and up to $1.30 over the next month as a second well was drilling. Bear in mind the oil price was in the $20's back then, similar issued shares, but a smaller net target for HDR.
Success for Neon should be closer to $2 for the first well assuming stacked targets, goodness knows where we might be by spud date.
NEN Price at posting:
20.5¢ Sentiment: LT Buy Disclosure: Held
