Neon Operator and 100% Working Interest Holder

The Paloma area leases cover the northwest extent of the large Paloma oil and gas field, which has produced some 60 million barrels of light oil and over 400 billion cubic feet of gas.

The most mature prospect is Osso Bucco, which is defined by 3D seismic data as a possible extension of the Paloma field.  The primary target of the prospect is at c. 11,350 feet and has a Prospective Recoverable Resource 13 million barrels of oil equivalent in a trap comprised of a series of channel sands pinching out on to the Paloma anticline.

Shallower, previously produced sandstone reservoirs offer secondary targets in Osso Bucco.