ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE: 16 January, 2012
NEON AGREES VIETNAM FARMOUT
Neon Energy Limited (ASX: NEN) is pleased to announce that
the Company has accepted a binding offer from a third party
to farmin to Block 120 and Block 105-110/04, offshore
Vietnam.
Due to confidentiality obligations Neon is not in a position
to provide a detailed summary at this time. However under the
agreed terms the farmout will deliver an expanded work
programme in both blocks with no substantive cost to Neon,
with the Company retaining a material working interest.
The offer remains subject to finalisation and execution of a
Farmout Agreement, which the Company anticipates will be
executed during the first quarter, 2012. The agreement will
be conditional upon the usual approvals required from
Petrovietnam and the Vietnamese Government.
A further announcement will be made upon execution of the
Farmout Agreement.
Commercial Manager: Iain Smith, Tel. 08 94811176
Citadel Communications: Peter Brookes, Tel. 02 92903033
Website: www.neonenergy.com
Neon Energy Ltd, ABN: 49 002 796 974, Ground Floor, 88 Colin Street, West Perth, 6005 Ph: +61 (08) 9481 1176 Fax: +61 (08) 9481 7720
PO Box 1789, West Perth, 6872 Website: www.neonenergy.comE-mail: info@neonenergy.com
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