Neon Operator and 100% Working Interest Holder

Neon has been successful in securing a large acreage position in the ‘Buena Vista Valley’ area flanking in particular the giant Buena Vista oil and gas field (660million barrel oil and 1.2 trillion cubic feet gas) and the 113 million barrel Yowlumne oil field. The largest field in the Basin the 3.5 billion barrel Midway Sunset oil field is located immediately west and south west of the lease areas.

There are a range of trap types evident in the leases including large, mostly stratigraphic traps, anticlinal traps and fault bound structures. In almost all cases the targets are Miocene Age, deep water sandstones, that are productive in nearby fields. Target depths range from 7000 feet to over 13,000 feet.

Neon has compiled a large well and seismic data base over the leases, including a number of 3D seismic surveys, which have been evaluated to rank in order of merit the leads and prospects in the acreage.

The Buena Vista Valley portfolio comprises the Taft area leases.