NEO - Nuenco Limited

[mime]

Anyone notice the big jump today? Any idea why?

 

[laurie]

Anyone notice the big jump today? Any idea why?

yep

Salinas Energy Limited (SAE) today announced that further positive results have been achieved in the ongoing flow testing program for the North Yowlumne ST-1 oil discovery well. The company said the following was the Company’s preliminary interpretation of the test results so far, three zones were perforated and tested for flow. Salinas noted a 32 degree API oil with minor associated gas was been tested, at currently unconfirmed rates, from the lower two zones, Zone 1, 12,680 feet to 13,020 feet and Zone 2, 12,700 feet to 12,840 feet. Salinas interpreted these zones to be geologically related and likely to be in the same reservoir pressure regime. The company said 36 degree API oil with minor associated gas has been tested from Zone 3 between 12,490 feet and 12,690 feet which Salinas Energy considered to be the main reservoir originally targeted by the well. The group said the test results indicated that this zone has better reservoir characteristics than the lower zones and was likely to have a different pressure regime.

cheers laurie

 

[steveson]

Gladly! NEO's SP going ahead on strength of SAE announce of oil flow in North Yolumne test.NEO has 2 1/2 % interest in this find via its stake in Statesman Resources[19.9%]Estimated recoverable oil here 100mmb!
As u well know still waiting 4 flow results of gas at JH field which jv partner OPL expects to be commercially viable & into production in the not too distant future. & then we have JH oil to come. NEO is looking GOOD! My couple of hundred thousand Rights Issue entitlement is also looking rosier now! Good Luck !

 

[yogi-in-oz]

Hi folks,

NEO ..... would not be surprised to see some
good news released from the OPL camp soon
and this may flow on to NEO, as they both
have positive cycles showing, around:

26-29052006 ... significant and positive news ...

..... and more for NEO:

07062006 ... positive spotlight on NEO

13-14062006 ... 2 cycles here ... negative news???

3006-03072006 ... minor and positive cycle.

07-10072006 ... significant and positive - finances???

happy days

yogi



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[yogi-in-oz]

Hi folks,

NEO ..... "Update on South East Lost Hills"

happy days

yogi

 

[laurie]

yogi-in-oz

What's your take on the Trading Halt and Suspension

cheers laurie

 

[yogi-in-oz]

Hi Laurie,

NEO ..... as per post above, we were expecting some
negative news, when the trading halt was requested,
last week .....

..... however, given that NEO is cashed-up after a recent
capital raising, it would be a difficult pill to swallow, if they
were trying to raise even more money, unless it is for a
particular acquisition ..... yes???

Of course, there's been speculation about a takeover,
but with NEO projects being in early stages of defining
a resource, it would be hard to see anything, but POTENTIAL
..... and how do we value that for takeover purposes ???

So, while it may be somebody taking a stake in NEO, it
is hard to envisage a full-blown takeover right now, unless
it is a sizable shareholder, disgruntled with the slow
progress of the current management .... ???

Anyway, all this speculation gets us nowhere, so it's
easier and less stressful to wait for the announcement
and then weigh it up, for good or bad.

If good, add to our holding ..... if bad, bail out and
get on with the next one, as there's no shortage of
candidates, right now ..... !~! ... lol

happy days

yogi

 

[laurie]

Thanks Yogi always appreciate your input

cheers laurie

 

[pacer]

Now what the hell are they up to, more throwing money around, but not actualy producing anything, glad I got out at 3.8c, hmmmm maybe 2c is about right to buy in again, but they're still diluting the shares and gonna reduce the number to get the price to 20c.....so they can lower the share price again????? and make your investment totaly worthless, pretty hard to make a share even more worthless but they seem to be doing a damn fine job of it.

I thought oil floated to the top....Nuenco must have lead poisoning.

I wonder also what sort of acid theyre using (not the psychodelic stuff) to clean the mud out of the holes...last time I spilt battery acid on the ground it did nothing.......maybe they are using the other type of acid and that's why nothing is getting done...they're all tripping!

Just a thoery.

 

[chennyleeeee]

Man this stocks down the drain. It might be a good buy at the moment at 1.9cents, it seems to be at support but only time will tell if this support holds or it might tumble further than this. Might be a very good stock to have in your watchlist.

CHEN

 

[pacer]

Yeah it looks bad, but why would an investor give them the cash to buy into more land if they didn't have some confidence in NEO.

A 20% drop in price on good news seems strange, just when they may be ready for some more good news with the current wells, but that's market sentiment for you and dictates the share price, so I bought in today at 1.9c and am happy with this gamble as the payoff could be huge, especialy with this new aquisition.

This aquisition seems to be what they have been looking for for a long time anyway, and increases thier acreage by 18 times, so sentiment must be the cause...cant see any other reason for it.....I recon they got it cheap and having a company that has 40 years experience in that area to come on board is yet another asset.

If what they are sitting on at the moment gives them a current valuation of about 8c and estimated future share price of 50c to $1.50 and they hit something good in this new area you can imagine the future share price.

To me sentiment is playing a bigger part in the share price than the fact there has been slow progress, and so much share dilution, which should decrease once the gas starts flowing. I think they said, a while back, that there will not be any need to find further funding once these wells are in full swing, and it should be noted that this a junior oiler that has only been in this area for 18 months, which in the big scheme of things is only a small time period....personaly I bought only 55000 shares, and see it as a possible retirement fund, or I've lost less than I would have spent on bad day at the races or casino.

Not trying to get support here as my share holding is very small and insignificant compared to the rest of my portfolio but any comments here would be appreciated.

I usualy go on the saying..."the trend is your friend" but in this case I'm going on gut instinct.....NEO may fall some more but it's not enough to put me off.....I may even buy some more.

 

[chennyleeeee]

Definately worth a few hundred or a grand in this. The payoffs could be spectacular for sure and considering its on a very well established support, it might be the right time.

Still looking for a reversal signal. 1.8cents at 1.27pm

CHEN

 

[pacer]

Oh dear, Huston we have a problem. mayday mayday mayday, we're crashing............................

Any ideas anyone..........would it be dangerous to buy more NEO at about 1.5

 

[pacer]

Interesting open to trade today with alot more support....
1.5 mill traded at open and one player in with 15mill as a support buffer at 1.8c.....could this be the end of the downturn?

 

[chennyleeeee]

We'll have to wait till the end of day now...but what confidence to buy that many. Its almost a house worth of shares. But then again maybe their just rich and have gambling in their blood.

CHEN

 

[chennyleeeee]

We've got 3 new entrants and 2 more million trades. People are willing to step it up to 1.9 cents. Will our 15 million share man do the same?

CHEN

 

[yogi-in-oz]

Hi folks,

NEO ..... given the share consolidation and
all the other recent events, it may take
some time for NEOphites to feel that all
the drama has finished ... ???

Expecting positive news/moves for NEO
on 3006-04072006 ...

Next negative cycle due, around 10072006 ... ???

happy trading

yogi



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[chennyleeeee]

The 15 million man has withdrawn his order. =(

CHEN

 

[pacer]

Still plenty of support, don't panic.

 

[chennyleeeee]

Breath In Breath Out

CHEN