NEN 0.00% 22.0¢ neon capital ltd

NEN had about M$18 at the end of last quarter and it is down to...

  1. 334 Posts.
    NEN had about M$18 at the end of last quarter and it is down to M$10 this quarter. I wonder how much has been paid into the cost of the drilling already. Looking at the overall cost of the drilling and follow up testing for us to be at M$15 the total cost of the project would need to be M$105 as ENI is in for the first M$45 and then on we are in for 25% As some of the delay's were due to drilling problem which we should not be liable for I don't think we will be over the M$100 so we might get out with not to much damage. Going forward we can always lower our exposure in future drilling in Vietnam if one of the joint venturers will take more equity.
 
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