# NEN - Neon Capital



## Joe Blow (10 January 2010)

Neon Energy (NEN) was previously known as Salinas Energy (SAE). 

For discussion of this company when it was known as Salinas Energy please refer to the SAE thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=6630


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## eddyeagle (5 November 2010)

*Re: NEN - Neon Energy*

Thought i'd get this thread going... Have had a small parcel of NEN (ex Salinas) in the bottom drawer since the GFC... Has been an absolute dog!

But have seen a bit of a jump in the SP in the last two months - from 10c to 16.5c! 

Patersons put a report out on 27 October 2010 with a target price of 26c:

_ Production continues to increase. Production was up marginally
at 362bopd (358bopd for June Q) following the drilling of the
Lombardi 15-27H which came on at 230bopd and increased to
488bopd. The well boosted the gross rate in excess of 750bopd,
however the timing meant it did not have a significant effect on the
Sep Q results. Steaming is also planned at NSA, which together with
the potential for more development wells will continue to enhance
this cornerstone asset. NEN finished the quarter of US$2.1m in cash
plus US$1.5m receivable from KrysEnergy.

 Appraisal of Paris Valley has significant upside potential. With
our valuation of NSA at $0.15/sh underpinning the current share
price there is significant upside from the progression of NEN’s
portfolio of exploration and appraisal assets. This includes the Paris
Valley project which is thought to contain over 100mmbbls of oil in
place. Testing of the vertical well NPV-1 is underway, which subject
to a favourable outcome will be followed by a horizontal appraisal
well in the central section (CPV-1H) and in turn will allow for a
review of MHA’s reserve assessment. Should the testing suggest
that a development could yield even a 10% recovery of the in place
volumes, this would be a significant boost to NEN’s current
3.8mmbbls of reserves at NSA and be a major catalyst for the stock.

 Vietnam acreage provides ‘blue-sky’ exploration upside.
Interpretation of newly acquired 2D seismic across both exploration
blocks will be followed by an independent resource assessment in
early 2011 (results likely in mid-2011). ExxonMobil plans to
commence exploration drilling in late 2010, with one well per block
planned for the 3 blocks located to the immediate North of NEN’s
Block 120. Success would enhance the prospectivity of Block 120.

 We maintain our BUY recommendation with a price target of
$0.26/sh. Key catalysts will be ramp up of production at NSA plus
additional wells, NPV-1 results (Q4 2010), CPV-1H drilling and
testing (Q1 2011), independent resource assessment in Vietnam
(mid-2011) followed by first exploration drilling in Block 120 (2012)
with the results of ExxonMobil’s program to have significant bearing._


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## tothemax6 (1 February 2011)

*Re: NEN - Neon Energy*



eddyeagle said:


> Thought i'd get this thread going... Have had a small parcel of NEN (ex Salinas) in the bottom drawer since the GFC... Has been an absolute dog!
> 
> But have seen a bit of a jump in the SP in the last two months - from 10c to 16.5c!
> 
> Patersons put a report out on 27 October 2010 with a target price of 26c:



Lol . I hope you held onto it. 
This happened: http://www.youtube.com/watch?v=buGqReTozno
People saw this conference, and the SP then erupted. Just shows you what the efficient market theory is worth.


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## zenji (9 May 2011)

*Re: NEN - Neon Energy*

Just noticed a 7.55% spike in share price, any ideas on where this is headed?

Dont hold the stock -  not yet


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## huggy (9 May 2011)

*Re: NEN - Neon Energy*

yes, very keen to know more about this one


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## rcm617 (9 May 2011)

*Re: NEN - Neon Energy*

Some good unrisked prospective resource estimates out today from its block 105 off vietnam of 6.3 Tcf gas, with high case of 21.4 Tcf, and 155 million barrels of oil with high case of 487 million barrels. Assessment from block 120 still to come. They plan to drill three wells in these prospects early next year, hopefully farmed out at no cost to themselves.
Revenue from their California operation has built up since they have started steam injecting, increasing from $2.1m to $3.9m last quarter.
Plenty of news to come with Exxon about to start drilling just north of Block 120 and Origin drilling block 121 to the south soon.
They have some great prospects for a company with a market cap of only $125m and plenty more room for increasing the shareprice.


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## eddyeagle (11 May 2011)

*Re: NEN - Neon Energy*

What a day - up 18% - volume of 9 mil shares traded and closed on the high of 36cents! 

I had a look at the announcment - Bluegold Global Fund have upped their stake to 14.97%. 

This stock really shows the value of a bit of patience!


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## rcm617 (12 May 2011)

*Re: NEN - Neon Energy*

From the AFR
"Viet gas prospects propel Neon into the limelight

Punters are continuing to scramble aboard little-known oil and gas play Neon Energy. The stock has already surged by almost 30 per cent since the announcement of some huge exploration targets earlier this week.

Studies at Neon's 40 per cent-owned Block 105 off Vietnam identified prospects capable of hosting a whopping 21 trillion cubic feet of gas. On a best estimate basis, the prospects could host over 6.2 Tcf.

Neon's already being talked of as the next Karoon Gas, which surged in value on the back of its huge Poseidon gas discovery, and the presence of several oil and gas majors in neighbouring blocks has only helped feed the excitement.

While the rewards are potentially huge, so too are the risks. But even a comparatively small discovery could drive a re-rating well in excess of this week's gain. And with a second Vietnam block being studied, the potential could grow yet again. Southern Cross Equities values Neon at 46 a share based on just 1.5 Tcf in the block with a 20 per cent risking. A more optimistic, fully un risked valuation would sit closer to $10 a share."

Holding up well today on a down day for energy stocks, after two good day of rises.


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## romeo (13 May 2011)

*Re: NEN - Neon Energy*

NEN is still going fairly strong today with about 3 Times the buyers as there are sellers. 

I'm not sure that the stock can keep going up like this.

(took a punt yesterday at 38.5c)


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## rcm617 (19 May 2011)

*Re: NEN - Neon Energy*

Independant assessment of block 120 out today, best estimate of total unrisked prospective resources of 2.67 billion barrels of oil with high case of 7.95 billion barrels.
 Two best estimate leads of 611 million barrels and 460 million barrels.
 Shouldnt have any problems farming this out for a free carry through the drill, whilst retaining a high percentage in case of eventual success.


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## skc (19 May 2011)

*Re: NEN - Neon Energy*



rcm617 said:


> Independant assessment of block 120 out today, best estimate of total unrisked prospective resources of 2.67 billion barrels of oil with high case of 7.95 billion barrels.
> Two best estimate leads of 611 million barrels and 460 million barrels.
> Shouldnt have any problems farming this out for a free carry through the drill, whilst retaining a high percentage in case of eventual success.




Sounds big. Anyone care to provide some ball park valuation?

Holding a few on technical analysis but would probably keep a few for longer term if the upside is there.


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## rcm617 (21 May 2011)

*Re: NEN - Neon Energy*

Bit hard to put a valuation on the vietnam blocks at this early stage. Southern Cross equities do an analysis of the value of Block 105 of anywhere between 14c and $10, depending on amount of risking and which level of estimate is used. They had a target of 46c using the lower valuation and before this weeks block 120 estimates.
Their research can be found at the neon webpage.
http://neonenergy.com/investors/media
Personally I'll be holding till they start drilling, when I'll probably sell half and keep the rest for the possibility of some major upside. Have held these for about 7 or 8 months and so far it has been ticking all the boxes, with a growing revenue stream from its californian operations and vietnam looking better and better.


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## skc (21 May 2011)

*Re: NEN - Neon Energy*



rcm617 said:


> Bit hard to put a valuation on the vietnam blocks at this early stage. Southern Cross equities do an analysis of the value of Block 105 of anywhere between 14c and $10, depending on amount of risking and which level of estimate is used. They had a target of 46c using the lower valuation and before this weeks block 120 estimates.
> Their research can be found at the neon webpage.
> http://neonenergy.com/investors/media
> Personally I'll be holding till they start drilling, when I'll probably sell half and keep the rest for the possibility of some major upside. Have held these for about 7 or 8 months and so far it has been ticking all the boxes, with a growing revenue stream from its californian operations and vietnam looking better and better.




Thanks. 14c to $10 is a pretty big range... I might just keep trading it technically. I don't hold anymore but it looks like something that has a few runs left in it.


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## makybe04 (19 June 2011)

*Re: NEN - Neon Energy*

Really like this stock. Has a lot of potential. What are peoples thoughts short term on this price? Personally I see it heading north past the 12 month high.


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## rcm617 (20 June 2011)

*Re: NEN - Neon Energy*



makybe04 said:


> Really like this stock. Has a lot of potential. What are peoples thoughts short term on this price? Personally I see it heading north past the 12 month high.




Held up pretty well today despite most other small oilers making big retreats. Apparently the latest run is due to an upgrade from Southern Cross Equities after the review of Block 120 with a valuation of $1.20.  
Bit of news soon on farmouts and Exxon drilling will hopefully keep the shareprice moving.


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## rcm617 (21 June 2011)

*Re: NEN - Neon Energy*

Latest research from Southern Cross Equities is now on the neonenergy website.

http://neonenergy.com/files/1913/0862/1422/SCE_Research_Note_June_2011.pdf


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## rcm617 (1 July 2011)

*Re: NEN - Neon Energy*

Going for a nice run today. Still plenty of upside to $1.20 target set by SCE.
Getting a bit of exposure from the press.

http://video.cnbc.com/gallery/?video=2028390987

http://www.bloomberg.com/video/71616426/


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## isplicer (18 August 2011)

*Re: NEN - Neon Energy*

A nice run today, indeed. Would greatly appreciate it if someone could provide some technical input regarding this breakout. Reckon it'll continue tomorrow, or consolidate?

Cheers.


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## pavilion103 (2 December 2011)

*Re: NEN - Neon Energy*

This one is in an interesting position.

It looks like some supply coming in today, as it attempted to push through the strong resistance area.


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## mr. jeff (30 March 2012)

*Re: NEN - Neon Energy*

Currently its assets are valued at 41c by a small cap report - without valuing exploration upside (if you would), suggesting great prospects here.

Production valued at 27c at $ 100 barrels and Cash at 14c.





Waiting for the action to develop before I will believe anything though. So far it is running along in the range.


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## Clansman (17 July 2012)

*Re: NEN - Neon Energy*

This has had a fair degree of success lately. Positive bounce of recent lows below 30 cents and a succession of affirmative announcements.


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## mr. jeff (7 May 2013)

*Re: NEN - Neon Energy*



Clansman said:


> This has had a fair degree of success lately. Positive bounce of recent lows below 30 cents and a succession of affirmative announcements.




A very impressive run lately and after looking at the chart there is the possibility that it may find resistance quite solid at the current 26c level. Quite high volume too.


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## piggybank (21 December 2013)

*Re: NEN - Neon Energy*

Got a speeding ticket the other day - http://stocknessmonster.com/news-item?S=NEN&E=ASX&N=662096

Note the volume has been gradually increasing lately...


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## rcm617 (21 December 2013)

*Re: NEN - Neon Energy*

Doesn't seem to be much interest here. Doing the DST on 105 at the moment on four zones that gave good gas shows, should get the results sometime over the Christmas period.
Should also get an announcement on 120 when it reaches the next casement point which should be any day now. COS in this was higher than in 105.


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## rcm617 (10 January 2014)

*Re: NEN - Neon Energy*

Looks like both wells unsuccessful. We'll see a big tumble when they come out of the trading halt.


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## nizora (15 January 2014)

*Re: NEN - Neon Energy*

_


rcm617 said:



			Looks like both wells unsuccessful. We'll see a big tumble when they come out of the trading halt.
		
Click to expand...


_
You're not wrong. 5 cent and under is  a big possibility. Worst still if the rumour out  is correct that they are running out of fund.


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## rcm617 (15 January 2014)

*Re: NEN - Neon Energy*

Didn't think they would drop this low, but with all the uncertainty about cost overruns and possibility of a capital raising the market has discounted the rest of their assets severely.
Fortunately sold a few along the way at a good profit, but had enough left at the end for it to hurt. Seem like a bargain at these prices, so will pick up a few when things are a bit clearer as regards a capital raising.


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## nizora (16 January 2014)

*Re: NEN - Neon Energy*

_


rcm617 said:



			Didn't think they would drop this low, but with all the uncertainty about cost overruns and possibility of a capital raising the market has discounted the rest of their assets severely.
Fortunately sold a few along the way at a good profit, but had enough left at the end for it to hurt. Seem like a bargain at these prices, so will pick up a few when things are a bit clearer as regards a capital raising.
		
Click to expand...


_

14 Jan,2014
Director John Hugh Russell Lander jumped ship?  Disposed 3,888,600 .Very discouraging !



Ken Charsinsky 16 Jan,2014
Neon has no urgent requirement to raise funds. However, like all junior E & P companies capital will be  required  in  the  medium  term  as  the  Company  looks  to  develop  and  grow  our  portfolio  of opportunities. There are a number of options available to fund the cost overrun in Vietnam, given the company’s equity position in the blocks and other assets within its portfolio. 
A share placement is not the Company’s preferred option for raising funds at this time, and as such there are no current plans to conduct a capital raising.


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## WillyWonka (18 March 2014)

*Re: NEN - Neon Energy*

NEN is in a trading halt as of today until Thursday 20/03/14. The share price jumped 65% before the announcement was made which looked very suspicious to me?? Anybody got any clues as to what might be going on?


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## piggybank (18 March 2014)

*Re: NEN - Neon Energy*



WillyWonka said:


> NEN is in a trading halt as of today until Thursday 20/03/14. The share price jumped 65% before the announcement was made which looked very suspicious to me?? Anybody got any clues as to what might be going on?




The *69.57% JUMP* was only 0.014c on turnover of 31,259,576M = Value - ($A)1,065,866


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## WillyWonka (18 March 2014)

*Re: NEN - Neon Energy*



piggybank said:


> The *69.57% JUMP* was only 0.014c on turnover of 31,259,576M = Value - ($A)1,065,866





Very true the value of the move not that substantial. Would it be a fair assumption that this move in price before that market knew about the halt was from a group of traders who somehow know of a pending resource discovery?


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## rcm617 (19 March 2014)

*Re: NEN - Neon Energy*



WillyWonka said:


> Very true the value of the move not that substantial. Would it be a fair assumption that this move in price before that market knew about the halt was from a group of traders who somehow know of a pending resource discovery?




Much more likely that the cost overruns on the drilling is not as bad as feared, or they are getting some of the costs reimbursed from insurance. There would  be the three oil companies involved as well as the drilling company and insurance company, so plenty of people to let something slip. 
Noticed Krisenergy was up over 6% yesterday on increase volume.


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## System (19 February 2016)

On February 19th, 2016, Neon Energy Limited changed its name to Neon Capital Ltd.


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## System (26 February 2017)

On February 24th, 2017, Neon Capital Limited (NEN) was removed from the ASX's official list, in accordance with Listing Rule 17.11 pursuant to the Company's request for removal from official quotation.


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## Trav. (13 July 2019)

Just received a check from NEN, return of capital of $0.18 per share.

From buying this in 2014 I assumed all money was lost but better than nothing I suppose.


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