Neon Energy (NEN)

finicky

finicky

Well-Known Member
Silver Stacker
Bullish chart short term

http://forums.silverstackers.com/topic-25304-thoughts-on-energy-company-stocks.html

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Bombed out with the above prediction :/

Now the company has announced a trading halt till Fri 14 when it should announce a cap raising to fund more Paloma Deeps drilling. This should ram the SP down to 30c at least on open? Opportunity for anyone with an interest - should be a value adding announcement or two to come in the near term imo. Got a fair holding in this one and hope to sell 1/3rd at say 60c up ahead for free carry. That's the plan anyway.

Recent BRR Media interview with M.D gives an idea:

http://www.brrmedia.com/event/103888/ken-charsinsky-managing-director
 
Just out of interest, how do you think NEN is going to raise the capital? He was talking about either selling some interest in paloma, taking on some debt (specifically talked about the low US debt level), and then he was talking about the possibility of equity.

Charsinsky was also talking about other parties in the area specifically OXY, what sort of impact do you think that will have on NEN's progress in the future?
 
DPR1242 said:
Just out of interest, how do you think NEN is going to raise the capital? He was talking about either selling some interest in paloma, taking on some debt (specifically talked about the low US debt level), and then he was talking about the possibility of equity.

Charsinsky was also talking about other parties in the area specifically OXY, what sort of impact do you think that will have on NEN's progress in the future?
Click to expand...

Gday, I can't really offer much on your questions, but I assume it can only be good to have the biggest Californian Oil/Gasser (OXY) beavering away right next to you. Firstly it shows confidence in the Paloma field, and if they sure up their own resource that will reflect well on Neon's patch. Secondly they're possible bidders for a share of Neon's prospect

http://www.oxy.com/NewsRoom/Documents/2012 Fast Facts California.pdf

how do you think NEN is going to raise the capital?
Click to expand...
Don't know, but I suspect this will be a placement like last time. After the 2011 placement (25c) there was ample opportunity for the non privileged to load up in the market at the same price or lower. Doubt the debt route at this stage, but just guessing.

Sorry that I can't offer more, I just put it up here as a superior punt imo, and I should say I'm in at a cheaper level, having added a lot during the GFC. My fave commentator about this company is TShirt over at hotcopper, but I was involved before he appeared.
 
Price recoiled to test previous short term high, threw a hammer candle yesterday, closed up 10% today on its intraday high

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I will never understand why people buy stocks like this

Only ever made a profit 2 years out of the past 15
Haven't made a profit since 2006
 
finicky said:
High Spec Stock

Position: Stock Held
Sentiment: None
Intention: Sell half at 35c for free carry
Click to expand...

Less than 1 hour into trading, looking terrible. Well exposed as didn't get 'my price' for reducing holding to a free carry. Announcement due any day/hour for results from first offshore Vietnam drill by joint venture partner. Could be some holders desperate to lower exposure before the actual news - causing stops to run, or could be news leak.

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Nice day for NEN today closed up 25% at .32!.. @finicky, are you still going to sell half your shares at .35 to get a free carry or has todays news changed your mind? I regret selling my stake in NEN big time now.. I liked the company and its prospects but decided to sell at a slight loss and put my money into averaging down my gold stocks (that have now fallen much further :( ). I have learned my lesson now though. I also sold my CNU shares at a tiny profit a while ago to buy gold shares... I think that was the money I used to buy SLR at $1.90.. CNU is now up another ~15% from when I sold, SLR down like 70%.:lol:
 
Yes NotBen, will try to be disciplined and go for a free carry. Will be leaving the target a bit more flexible than 35c now though. Even if this comes in big it will still only be repairing the damage from this kind of speculation in the past so they are not worth it I've found. Goldies and oilers I mean.
 
So they found gas at Block 105 but now have agreed with jv partners to do a production well to get an idea of size, deliverability of the gas and gas constituents (might be CO2). Pretty disappointing reaction from buyers today - must think it's a speccie or something! lol. I bought some for this price a year ago

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38.5 cents NotBen! Heheh, gibber ...
Not shown on this 2 year weekly chart but the chart does show the significance of 35c as resistance.
Now needs to close above but looking almost certain with news of commerciality, or not, imminent
Haven't sold half yet

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Kersplat

Price down 20% or so.

One prospect down, one to go (the bigger one)

"Neon Energy Managing Director, Ken Charsinsky, commented, "Ca Ngu-1 represents a
technical success which has provided the Block 120 Joint Venture with valuable new
information that will influence the forward exploration program within the block. In the
meantime we eagerly anticipate the results of production testing of the Cua Lo-1 gas
discovery well, located in Block 105."
Operator Eni is plugging and abandoning Ca Ngu-1 as an oil/gas discovery well."
 
Kersplat #2

According to announcement from Kris Energy, a 25% partner of Neon and ENI in the Vietnam field, Cua Lo-1 well, located in Block 105, is also a duster - low 'deliverability' of gas and high CO2 content. To be plugged and abandoned. Neon Energy (NEN) is in a trading halt, but will presumably reopen tomorrow and crash. Sorry to have drawn any attention to this company. My punishment looms.
 
got in at .071 Friday out at .08, back in at .07 at the close, out at .076 Monday.

thanks Finicky for drawing attention to it .
 
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