NEO - Nuenco Limited

[pacer]

Do you want a paper bag or two Chen?, one for hyperventilating, and one in case you start spewing if the price drops again,.... or to hold all your profits if it starts climbing.
Still plenty of support at this price, best way to raise price is to buy 5 or 6 million yourself, go on I dare you, you also beat me to pick NEO for the stock comp, and you would win if you did buy a few million....sell your house! lol

 

[yogi-in-oz]

Hi folks,

Let's see if we can refloat NEO, this week ...

NEO chart shows that she ran aground last week
to make a double-bottom, with a similar sounding
in February 2004, around 1.8 .....


See NEO chart, attached below .....


..... from 2004 lows to 2005 highs 387 days elapsed,
but it took exactly 90 days (solar degrees) longer
for the downleg from the March 2005 highs to the
current lows.

Volumes over recent days have been high, indicating
a blow-off low and renewed interest by buyers,
despite an unpopular consolidation of capital
(due to its timing)

Finally, two positive cycles this week may well
give us a favourable tide to lift NEO back into
green water ..... lol

happy days


yogi

P.S. ..... MOS and AZZ may also be good performers,
in the week ahead.

 

[pacer]

Well she's holding her own for the moment.............come on baby, do something anything.
I wanna send out Jed Clampet to put a few holes in the ground........anyone for some rabbit shooting in california????

 

[pacer]

WOW where did all this support come from, things maybe looking up for the old girl after all........Any opinions??

 

[Quentin_txh1178]

Hey guys ,

Im new here, the reason why I joined was because like you I want to see Nuenco hit the jackpot. I Paid 2.9 Cents for it about 2 months back and have been disapointed ever since. But like you all I believe it has potential and always appears to be on the brink of finding something big but not no avail. I was nervous as well about that trading suspension but wasnt surprised that the market didnt respond favourably to the relatively positive due to the current state of the markets.

Im still goin to hang in there though, does anybody have any additional information about the company like there progress of anything?

Cheers,

Quentin

 

[pacer]

Well Quentin, everyone's holding, it's alway slow with these guys, I think it's probably about time Yogi called Cain again and got up him for some more info.
Fall in price was just around tax time so they were probably just doing the old tax loss thing and will be back within a month...just a guess.
I bought at 4.5c and got out at 3.8, and am back in for more punnishment, but other wins have more than made up for it........don't put all your eggs in one basket as they say.
Best do what I do ....put them a way in a drawer and forget about it....move on to other things...plenty of others out there.

Best advice I can give is "the trend is your friend" If its going up slowly it's a better bet, I don't think buying at 2.9c was very smart as there was no real support around that time, but we're all entitled to make mistakes, especialy at the start and you will always learn from them...trust me....and don't listen to rampers too much or you may get stung too...do your reasearch.

My mate who has traded for MANY years, said it would hit around 2c so I got out, he also said that at that price anything could happen, good news, a takeover or management shakeup, that could either ruin or make the share price, so it's becoming even more of a speculative share.....Me I don't realy care that much as the amount I have in them isn't enough to make me cry if I lost the lot, and that's the point....never put in more than you are prepared to loose....I have a checklist I use for every purchase that covers everything I can think of...if it it's a bit touch and go i may put in a little bit, if it doesn't add up then I leave it alone. you may only find 1 in 100 that are 100% ripe for the picking...and you could still loose.

This one is, in my opinionon the lower end of a good buy, but as I had lost a bit already I have put back in what I had left after loosing last time, and guess what.....I have even more shares than last time by a hell of a lot, but NEO are of course a little bit more diluted now, but with more assets too remember.

It's all a bit Yin-Yan at the moment, it's just yan has been winning...........

 

[Quentin_txh1178]

Yeh I would agree there are better shares out there. When I bought it back at 2.9 cents, It appeared to be coming out of the downward trend but unfortunately it did not find support at around this level.

But I decided to stick with it because I believe thye are moving in the right direction very slowly though. It was mentioned that they may have devalued their share price as it is at the end of the financial year, how would a company do this?

Regards

Quentin

 

[Quentin_txh1178]

Oh yeh and another quick thing...

The share price seems to have found support at around the 1.8 - 2.0 cents mark. A few weeks ago I was ripping my fricking hair out when it go down to 1.7 cents and there were buyers wanting it for 1 cent!

 

[steveson]

I just wonder though==have a lot of the delays with both opl & neo been due to the circumstances surrounding attaining more acreage before going hard at JH Field.After all,with price of oil & deep plays commercially viable now in this area maybe getting more land was the play before revealing the potential of JH. There must be some twist to all of this! Or would it have been a small oversight by NEG-OPL-NEO to sink funds straight into building pipeline & then ring AREA up &ask requirements for hooking up gas!Just can't get my head around that move.Good Luck All!

 

[Quentin_txh1178]

hey steveson

Can you or anyone out there tell me if they have started to pump the gas out any of their drill sites and feed it through their pipeline?

Does anybody also know if the pipeline is finished yet?

Regards

Quentin

 

[laurie]

Insufficent flow rate from NEO wells I think the minimum flow rate is 1.5m they can only get .5m

cheers laurie

 

[pacer]

The flow rates are low because of the mud clogging the bore holes, they're using acid to try and remove it, I think this is the mud they use to line the walls and fill in cracks so it doesn't completely clog or cave in ect. and has not alot to do with the pressure in the bottom, once opened up they will hopefuly get the required flow rates,
Pipeline last time I looked had not been hooked up.....Still in testing mode and cleaning holes out, so wont connect till there is useful flow rates. I agree they were putting the cart before the horse on this one....build a pipeline to make everyone think it's all go, then dissapoint us again...idiots!.
Quentin....I don't think they can or did devalue the SP as only the market can price a share, I think the drop was, as I said, due to loss taking before the financial years end so they (share holders, not the company) can offset it against profits from other sources.
What I don't like is that they seem to be acting as investors for us instead of getting on with the job at hand, buying that other company and thier rights was a good move but they're also buying into other companies aswell which is not what they're supposed to be doing unless they are realy onto something through pub/pillow talk....guess we'll find out soon enough
Still holding

 

[Quentin_txh1178]

Ok so they need a flow rate of 1.5 for it to be commercially viable...

and they are at a third of that. Do they know or can they estimate the flow rate of a well before they actually spend any money on it? Like in this instance even though the well is only pumping out a third of the minimum amount due to mud clogging, does NEO know that once the clogging is fixed up the gas will flow at 1.5 or is that just a risk a mining company takes?

But Pacer I know what you mean about stop being investors especially when their share price and company value is so low. You would think the logical approach would be to 1) Locate gas. 2) pump the stuff up to gain revenue which will assist further expansion. And finally 3) Expand exploration area.

Maybe the company they bought into was to good to pass up asset wise and experience wise. Or maybe NEO might be worried about the flow rates ??

Regards

Quentin

 

[pacer]

Dunno much about drilling but I can guess that if flow rates are too low they would be able to say if was due to lower pressure which is bad- they should be able to test for this easily though by pressure guage, or clogging, which either requires chemical (they're trying acid) or mechanical (redrilling-dunno if they can do this to a hole full of gas under pressure). They may even have to make the hole bigger but all this is speculation from an engineer that's more into dirt mining...might do a search on the net and find out what I can just for the hell of it anyway.

As for the rest .... who knows what's going on in thier little heads....I couldn't sleep at night if I was getting bagged by investors this much....we want more info!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Best of luck........

 

[Quentin_txh1178]

Hey,

I dont know if anyone out there has checked the NEO website lately, but there is an interesting article that was listed this month. It mentions a few valuable things...

Firstly one of the reasons for the delays is not only the problem with cloggings but have also had to deal with equipment shortages.

The article also outlines events that most people already know of namely the expansion of NEO through the acquisition of Surf Petroleum.

Finally, they NEO is looking at a financial restructure and will seek permission to consolidate their 868,224,851 on a ratio of 11 to 1.

What do people out there make of that last sentence?

Regards

Quentin

 

[laurie]

Well then the sp would be worth .198c! and that in practice never happens

cheers laurie

 

[Quentin_txh1178]

Hey Laurie

Just out of curiousity why wouldnt it happen?

Regards Quentin

 

[pacer]

Equipment should be on site shortly to clear holes and frac 2.1 hole.
Pressure was so great it made drilling unstable/uncontrolable and they had to use the heaviest mud available, including wallnut husks. they use this mud as a lubricant for the drill bit, remove debris and to seal the hole lining during drilling process to prevent pressure buildup for safety reasons.

So no need to worry about lack of pressure or the gass not being there.

Seems that using acid was a gamble and that fracing was always going to be the probable outcome, to create a porous area for the gass to flow through.

 

[Brissydave]

Just out of interest Pacer, where did you get this info ... ? .. not that I am complaining, I am holding, and was worried about the lack of recent updates .. until now ... thanks Pacer

The pressure problem sounds like the sort of problem any gas exploration co. would like to have .. LOL

Cheers .... Dave

 

[pacer]

Hi Dave....Was not perfectly sure if I was right about my assumptions. so I asked the guys on hotcopper (another great site).
looking back on all the info over the last year, my own experiences in the mining game, and this, make these statements sort of almost factual..lol
Some actualy call the boss man for a chat and get info on when the rigs are available, as any holder is entitled to do, but they are well known to him, so I don't bother mysef as I would probably be wasting his time and mine.
Have you read FAQ on thier site?

You get the idea......seek and ye shall find. Hope we get results soon anyway so people will stop calling it a 'dogs vomit of a company'. and let us make the $$$ we deserve for sticking with it here.