Neon's California exploration and appraisal interests are held by its wholly owned subsidiary Neon Energy Corporation, and located onshore in the Salinas and San Joaquin Basins respectively.  The two basins offer quite distinct opportunities, with the Salinas Basin assets being characterised by heavy crude oil opportunities reservoired in shallow clastic reservoirs; whereas the San Joaquin Basin offers large structural and stratigraphic traps with medium to light gravity oils reservoired at depth.