# NDO - Nido Petroleum



## GreatPig

NDO up nicely today, although there's a lot of supply at 17 cents. Just when it looks like it's mostly gone, another big lot comes in.

Bought in a few days ago for 14.5 cents, so will be keeping a close eye on the depth tomorrow.

Cheers,
GP


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## yogi-in-oz

Hi folks,

NDO ..... after failing to breach overhead
resistance several times, since the October 05
highs, the NDO chart is looking weaker now.

Technically, that retracement to 11 cents
would be very healthy, as it represents a
50% retracement of the previous upleg.

Looking ahead, there's a number of minor
time cycles anticipated over the next
6 weeks, with projected lows expected
around mid-May 2006.

Then, we will be alert on theses key dates
for some positive NDO news/moves:

23052006 ..... significant and positive news???

26-29052006 ..... spotlight on NDO???

Downside support expected around:

14 - 12.5 - 11 - 8.5

happy trading

   yogi


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## canny

NDO and YGL are ready to go hand in hand into the PAlawan oil fields - a massive oil acreage where 'elephant hunting' is expected to be successful.

It is being compared to Mauritania - and they have an immense amount of land.
Will be company making for both of them. Plenty of share movement left in them. Obviously YGL is doing very nicely as the farm in partner - keep an eye on them both if you're not already!!


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## Holden M Groyne

Hey there maybe more than a passing similarity with Mauratania. I think you will find Woodside are on the register of YGL via the most recent placement. If so thats great news for YGL and NDO.

HMG


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## benwex

Big volume increase today. Anyone following this stock and care to comment??

thanks

Benwex


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## Dutchy3

17 still looking like support on this one, can 21 -22 be taken out this time?


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## Dutchy3

We are closer finding out now, a month latter


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## Dutchy3

Closed at 21 on Friday ... I do believe we have had a change in direction for this one ... LONG


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## Dutchy3

Closed at 23 ... Can find any news or announcements on this one ...

Can anyone shed any light?


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## nrodman

:guitar: The seismic kick has happened,like a lead balloon but the big presentation in Singapore has kicked in but its hard to judge when to sell cos the rise aint smooth says he who bailed out at 20.5 last week!


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## Dutchy3

Nice return on this one so far ... and so the story continues ... Anyone actually now know why the kick in the price from a FA perspective?


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## Dutchy3

Seems to have recovered from its first retracement today.


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## moneymajix

NDO up 10% and cops a speeding ticket today!

Nido notes new information after shares jump 
19:31, Friday, August 10, 2007 

Sydney - Friday - August 10: (RWE Australian Business News) - 
Nido Petroleum Ltd (ASX:NDO) has responded to an ASX query over a rise 
in its shares from 27c yesterday to 33c today (34c at close). 
The company noted its most recent announcements, namely its June 
quarter report, and its presentation to the Merrill Lynch Conference on 
the Philippines, included the following new information: 
a. The anticipated arrival on site of the rig Energy Searcher in 
mid-September for the Galoc oilfield development. 
b. The expansion of the company's seismic operations in Service 
Contract 58 to 661 sq km of 3D seismic and 1928km of 2D seismic. 
c. The acceleration and increase of a 2D seismic program in 
Service Contract 63 to 3165km in the third quarter of 2007. 
d. The entry into sub-phase 3 of Service Contract 54, which 
carries a well commitment due before February 2009. 
ENDS 


Also, see YGL (JV partner in the Phillipines)


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## moneymajix

NDO up 17.778% to 26.5c.

It's partner in the Phillipines is YGL (mentioned previously) is also up over 12%.

I am not drawing any conclusions.


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## moneymajix

28.5c

Up over 11%

Some large orders going through.

Chart looks good too.


Recent interview
http://www.wallstreetreporter.com/page.php?page=featured&id=26379


ANN. today

*Nido Places Shares with Sophisticated Investor in China *

Nido Petroleum Limited (Nido) is pleased to announce that it has successfully placed 39.6 million shares at $0.28 per share to a sophisticated investor in China, raising gross proceeds of A$11 million. 
With Nido’s seismic programmes in Service Contracts 63, 58 and 54 due to commence in October 2007, Nido’s primary purpose in raising the funds is to prepare for its subsequent exploration drilling campaign, due to commence in the fourth quarter of 2008 in Service Contract 54. In particular, Nido has undertaken to source long lead time items for the drilling operations. Funds will also be used for Nido’s development activities and for general working capital. 

Nido’s Managing Director, David Whitby, said, “This fundraising will allow Nido to prepare for its drilling campaign, which is the next step in realizing the value of this world-class exploration acreage. It comes at a time of real growth and optimism in the Company. The placement with a sophisticated investor in China also allows us to further strengthen our strategic ties to Asia, which is where we see the future growth of our Company.” 

The shares issued under the placement rank equally with existing shares and fall within Nido’s available share placement capacity for the purposes of ASX Listing Rule 7.1. Nido expects quotation of the shares to take place on 26 September 2007. Following quotation, Nido’s total issued share capital will be 910,359,774 shares.


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## benwex

moneymajix said:


> 28.5c
> 
> Up over 11%
> 
> Some large orders going through.
> 
> Chart looks good too.
> 
> 
> Recent interview
> http://www.wallstreetreporter.com/page.php?page=featured&id=26379
> 
> 
> ANN. today
> 
> *Nido Places Shares with Sophisticated Investor in China *
> 
> Nido Petroleum Limited (Nido) is pleased to announce that it has successfully placed 39.6 million shares at $0.28 per share to a sophisticated investor in China, raising gross proceeds of A$11 million.
> With Nido’s seismic programmes in Service Contracts 63, 58 and 54 due to commence in October 2007, Nido’s primary purpose in raising the funds is to prepare for its subsequent exploration drilling campaign, due to commence in the fourth quarter of 2008 in Service Contract 54. In particular, Nido has undertaken to source long lead time items for the drilling operations. Funds will also be used for Nido’s development activities and for general working capital.
> 
> Nido’s Managing Director, David Whitby, said, “This fundraising will allow Nido to prepare for its drilling campaign, which is the next step in realizing the value of this world-class exploration acreage. It comes at a time of real growth and optimism in the Company. The placement with a sophisticated investor in China also allows us to further strengthen our strategic ties to Asia, which is where we see the future growth of our Company.”
> 
> The shares issued under the placement rank equally with existing shares and fall within Nido’s available share placement capacity for the purposes of ASX Listing Rule 7.1. Nido expects quotation of the shares to take place on 26 September 2007. Following quotation, Nido’s total issued share capital will be 910,359,774 shares.




Having a nice day up to 36cents......

Anouncement on Galoc 3 came out today identifying the potential and a progress update. Drill ship arrived and spudding comencing.

I have like NDO for a while now and am happy to hold till at least producton in 2008.

Anyone else a fan???


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## Wysiwyg

benwex said:


> Having a nice day up to 36cents......
> 
> Anouncement on Galoc 3 came out today identifying the potential and a progress update. Drill ship arrived and spudding comencing.
> 
> I have like NDO for a while now and am happy to hold till at least producton in 2008.
> 
> Anyone else a fan???




Yep, NDO has interest in acreage with big barrel targets already defined by 2d and 3d seismic.Millions of dollars being spent on continued seismic shows they want to know every square inch of the blocks.The Coron North prospect in SC 54 looks the best target for exploration from their seismic shot and estimated oil in place. 

Thing is the exploration wells won`t be drilled till late next year.Something to look forward to now is the Galoc development wells Stage 1 which will be a big step forward with cash flowing in come next April (longer than expected i reckon).Over a billion shares diluted shouldn`t be a problem once those bigger targets (that NDO hold larger percentages in) get drilled.25 % interest in the Cool Energy CO2 extraction business could be very profitable.

Good oiler to get ready for imo


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## benwex

Great news..

Announcment out that Galoc is flowing in excess of 5000 barrels a day..

Good news for both OEL and NDO holders.

A success.

benwex


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## habs

Wow nice result for Galoc 3!! cant wait for Galoc 4 results in a week or so!!  (i hold oel) 

fantastic


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## habs

galoc 4 announcement flowing at 6465bopd!! all done and dusted now with both wells, just gotta sell the stuff now at high oil prices

top stuff!!!


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## mick2006

anyone else catch NDO's announcement last night, truely incredible.  They have announced a median OIP estimate of 11.6 billion barrels in their Philippines leases.  With oil on the rampage and NDO now opening up their books for a farmout, this will surely raise the eyebrows of the big boys.  

With people now talking oil $150+ barrel surely NDO will be worth a punt to see how things play out.


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## benwex

mick2006 said:


> anyone else catch NDO's announcement last night, truely incredible.  They have announced a median OIP estimate of 11.6 billion barrels in their Philippines leases.  With oil on the rampage and NDO now opening up their books for a farmout, this will surely raise the eyebrows of the big boys.
> 
> With people now talking oil $150+ barrel surely NDO will be worth a punt to see how things play out.




what an excellent day and the price held up and will hopefully close near the days high...

With production at Galoc and the farming in of a big player for the massive deep water permit I would say NDO is far from a punt..

The announcement adds huge confident to the management and the companies business strategy. The phillipines is going to become a new Oil and Gas region with the likes of NDO and OEL producing the goods..

benwex


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## jonojpsg

Woooohooooo!!!  WHat an astounding announcement - 11.6 BILLION barrels of potential  

Even if they hit 1% of that and have a 30% share in a JV with a major, that still gives them 35 million barrels of oil.

These must be looking at a serious run IMHO


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## NomadAUS

I'm only new to this forum, and to the Share Market, but thought this article will explain thinks a bit better what is going on at the Galoc field.

Hope I don't do anything wrong posting here. 
This report I found in my quest for answers; hours of joy.


Philippine Galoc oil field startup delayed on equipment problem 

Singapore (Platts)--19Jun2008

The startup of the Galoc oil field offshore Palawan in the Philippines
has been delayed yet again after the operator identified a subsea equipment
problem, an official with the Philippine Department of Energy said Thursday.

The Philippine DOE had last week announced that Galoc would begin
production on June 16 after a delay of over two months. The field was
originally scheduled to begin production in early-April, but delays with the
floating production, storage and offtake vessel kept pushing back the startup.

The official said the field might begin production next week, but could
not confirm a date for the startup. 

Galoc, which is the Philippines' largest oil discovery so far and
the second-largest hydrocarbons find since the Malampaya gas field in 1998, is
expected to produce between 15,000-17,500 b/d of light, sweet crude oil. The
Philippines currently produces only about 300 b/d of crude from 15 marginal
fields and relies almost entirely on imports to meet its 200,000 b/d of crude
demand.

Oil from the Galoc field has an API gravity of 34 and will be mainly sold
to local refineries. 

The field is located in service contract SC-14 in 290 meters of water
approximately 65 kilometers northwest of Palawan. It has proven and probable
reserves of 23.5 million barrels.

Operator Galoc Production Company owns 58.29% of the field, with
Australia's Nido Petroleum holding a 22.28% stake. The remaining equity is
with five minority stakeholders.


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## Wysiwyg

NomadAUS said:


> I'm only new to this forum, and to the Share Market, but thought this article will explain thinks a bit better what is going on at the Galoc field.
> 
> Hope I don't do anything wrong posting here.
> This report I found in my quest for answers; hours of joy.
> Philippine Galoc oil field startup delayed on equipment problem




Hi NomadAUS, thanks for that news clipping.NDO provide up to date information on the progress of Galoc and state the reasons for delay on their website.Also if you have access to company announcements you can get the information straight off the press. 
Something I find with oil&gas exploration/production companies is that times are rarely met.Expectations being met are rare and when they`re not the share prices are usually smacked down accordingly. 

Hope you enjoy ASF, it is generally a well informed forum.


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## NomadAUS

Wysiwyg said:


> Hi NomadAUS, thanks for that news clipping.NDO provide up to date information on the progress of Galoc and state the reasons for delay on their website.Also if you have access to company announcements you can get the information straight off the press.
> Something I find with oil&gas exploration/production companies is that times are rarely met.Expectations being met are rare and when they`re not the share prices are usually smacked down accordingly.
> 
> Hope you enjoy ASF, it is generally a well informed forum.




Thanks for the kind words, I was a bit woried about posting here since I'm really, really new to the market. However I spend my last 4 weeks researching potential companies and finally I got ahead in the news section.

Anyway, what is clipping.NDO ? and what forecast price top would you estimate NDO be eventually when they getting it up in running.

Only asking this question cause the GAloc Oil seem to be more likely to feed the Philipinien market rather then anything else. Also the royalties could go up ones the succeed based on Philipino past Goverments actions on major projects. Hope this is not to much for you smarter guys.


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## nick2fish

Hi Nomad, I'm not all that smart but I'll add to your conversation for what its worth. 
You will find the market has already priced in Galoc oil production but in saying that NDO's share price has dropped slightly last week so it should rise back to the 0.50 mark when they announce flow and flow rate. 

NDO has excellent local knowledge gained from over 20 years in oil exploration in the Philippines. This an important asset in determining success over their vast a exploration acreage they have.

For future sp movement look toward their shallow water drill prog starting October.
As for the govt I not sure but Nido advertise on their farm out offer that the govt is very company friendly. 

It can always be a risk as governments change as with policy but while it makes economic sense for the Philippines to expand their oil potential attitudes will remain pro-active. 
Have a look at OEL too another good story IMO


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## NomadAUS

nick2fish said:


> Have a look at OEL too another good story IMO




Had a lock at OEL and now I'm confused, both NDO and OEL lock very good.
(future wise).
Which one would be a better company to buy in?
Or should I just devide my capital and invest 50% in each of the company's instead


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## benwex

On a day like today, NDO have come out with an anouncement from there 
Yakal-1 well currently drilling in SC 54, located in the NW Palawan Basin, offshore the Philippines. 


"Wireline logging over the weekend has confirmed the presence of at least a 66 metre gross oil column"

I wander how big this could be in potential 2P reserves???? As no one can pout in an order this announcement is yet to be priced but I think it is an excellent result..

Benwex


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## cg_factor

at last!


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## Wysiwyg

They say near 20000 bbls/d. which is around 4000 bbls/d to Nido.Wonder what price/bbl or contractual arrangements they have. 

Nothing much at Tindalo 1.


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## nick2fish

Pretty damn good for a 15.5c company and I think its Tindalo 1 will make ity 2 for 2......


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## nick2fish

Wysiwyg said:


> They say near 20000 bbls/d. which is around 4000 bbls/d to Nido.Wonder what price/bbl or contractual arrangements they have.
> 
> Nothing much at Tindalo 1.




Ah well actually there is .... but its testimony to a pretty sad and pathetic market when a oil find results in zero sp movement  

Nido’s Chief Executive Officer, Mr Jocot de Dios also remarked, “We are extremely pleased with, and excited about this second discovery in Tindalo-1 which comes right on the heels of our earlier Yakal-1 discovery. Our success today is a testament to the dedication of the Nido and Kairiki drilling and subsurface teams that worked on this program, the Philippine Department of Energy and the WilBoss rig and her crew. Following a drought of 14 years in the sector, these twin discoveries speak eloquently about the Palawan Basin as the premium destination in the Philippines to explore for oil and gas. With Nido holding the dominant position in this world-class Basin, we consider ourselves perfectly poised to execute our greater plans for this area. We remain firmly committed to our exploration program in the Basin and to the country’s energy independence initiatives.”


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## nick2fish

Here is quiet an informative investor presentation for the SC54 shallow development field courtesy of the KIK website
http://www.kairikienergy.com/system...cuments/20081030_Sydney_Review_30_Oct_083.pdf

Underlines the serious potential of this area and I am quiet happy to accumulate NDO at these sp price levels Cheers


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## MS+Tradesim

Well, I'm becoming a fan of NDO. It looks to me to have interesting parallels to CVN's story. Both are set to become significant producers in countries which have large net import demands. CVN's opex and capex are lower but NDO may have significantly greater oil reserves when they're proved up.


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## S73417H

Not a lot of chat about NDO for a while.  Obviously NDO has taken quite a hit since its May 08 high of 0.60, however my feeling is that this company still has a lot to offer us.  

What are other peoples thoughts?


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## J.B.Nimble

S73417H said:


> Not a lot of chat about NDO for a while.  Obviously NDO has taken quite a hit since its May 08 high of 0.60, however my feeling is that this company still has a lot to offer us.
> 
> What are other peoples thoughts?




I think this has amazing potential - a 100% hit rate on their drilling program, potential of 11 billion barrels oil in place, etc, etc - but we have some psychological hurdles to be overcome first. First hurdle is to see Galoc production resume after the FPSO riser incident (too many memories of the delayed start to production with similar problem last year). Second hurdle is to see that production pay back the Galoc development. 

With that behind us we then can start looking ahead to what might come from the Yakal/Tindalo discoveries and even to the prospect of farm-in agreements for the deep water targets. 

Don't even bother mentioning the POO - we're profitable as long as we can keep producing. POO will sort itself out sooner or later and I doubt it's short term position is a serious consideration for people who have studied the potential of this company... 

Loaded and waiting...


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## nick2fish

ditto........and I am thinking takeover/merger at these prices. A farmout arrangment certainly must be close and that will mean cash for NDO as unlike OEL they have the 3D sesmic work all done


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## S73417H

J.B.Nimble said:


> First hurdle is to see Galoc production resume after the FPSO riser incident (too many memories of the delayed start to production with similar problem last year).




Surely the new riser hookup has to happen within the next week or so? Hopefully with that back up and running we will see some production and in turn some added value.


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## J.B.Nimble

S73417H said:


> Surely the new riser hookup has to happen within the next week or so? Hopefully with that back up and running we will see some production and in turn some added value.




Yes. You are right - the indication was for production to be reinstated around the end of January. It will be good to see that happen - I'm sure they are still ruing the delays with last years riser damage - what a difference those few months of high priced oil would have made...


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## nick2fish

J.B.Nimble said:


> Yes. You are right - the indication was for production to be reinstated around the end of January. It will be good to see that happen - I'm sure they are still ruing the delays with last years riser damage - what a difference those few months of high priced oil would have made...




Jack you are correct in the assumption that riser trouble last year was very unfortunate, whereas riser trouble this year is shall we say.....Timely


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## S73417H

nick2fish said:


> Jack you are correct in the assumption that riser trouble last year was very unfortunate, whereas riser trouble this year is shall we say.....Timely




Timely? How so?

Good news with the riser repairs underway now! Let's hope production will follow soon!


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## nick2fish

A finite resource should be sold at a reasonable price. $34-$38 a barrel is not reasonable and compromises oil well economics. Fix what they can at this time and make it strong and reliable so downtime will be minimal when oil prices ramp again. 
NDO is my preferred oil junior but it does seem that they have been plagued by bad luck of late. 
Troubles setting up Galoc production when barrel prices were at record levels and now low oil prices. 
Like to see a merger now. 
With NDO local area knowledge could be coupled with cash so the huge oil discovery potential they have could be fast tracked to production.


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## S73417H

I think oil has a good chance of reaching $60 a barrel within the coming 6 months. Let's face it, oil has been a massively manipulated and overly priced commodity for a long time now.  It just took a financial crisis to force a correction.  Everything seems to show NDO moving into good profit this year, and with production now on track to resume in Feb, I'm optimistic NDO is getting ready to post some good profits.

Fingers crossed on future farmout agreements


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## S73417H

Nido up almost 7% from opening trade this morning. There has been some relatively big buys in the last few hours. Somethings up perhaps? Interesting....


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## nick2fish

Maybe that finger crossing of yours is paying off 

Most oil stocks that I watch are up today, so maybe it just on the news that US inventories finally dropped overnight.

OEL has posted a 9% gain so maybe something is up with Galoc.

Lets hope they reach a conclusion soon as to a farmout partner.

And if the announcement coincides with a strong oil price NDO Sp can finally gain some ground from the ridiculous sell-off that has been happening of late

Cheers


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## S73417H

nick2fish said:


> Maybe that finger crossing of yours is paying off
> 
> Most oil stocks that I watch are up today, so maybe it just on the news that US inventories finally dropped overnight.
> 
> OEL has posted a 9% gain so maybe something is up with Galoc.
> 
> Lets hope they reach a conclusion soon as to a farmout partner.
> 
> And if the announcement coincides with a strong oil price NDO Sp can finally gain some ground from the ridiculous sell-off that has been happening of late
> 
> Cheers




I suspect that there is possibly some good news on the Galoc front coming.  It is about right considering repairs are meant to be completed around now.


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## S73417H

And there we have it. The quarterly cash flow and activity report was release this afternoon ahead of those volume spikes during the days trading.  Overall I think the report is quite positive.  Interestingly Nido has sold $1,000,000 worth of its stake in Cool Energy which I think is a very smart move given the current climate. 

Thoughts? Comments? Opinions?


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## nick2fish

Had a quick read and the thing that stands out the most for me is their cash depletion 
From 29mil last qrt to 12mil this qrt
They need Galoc to get going and the oil price at over $60 to have a hope on realizing their huge potential, otherwise I feel they could stagnate for a while just because of the need to conserve cash.

However the market has been positive (up 6% against the trend) so its all good.


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## S73417H

nick2fish said:


> Had a quick read and the thing that stands out the most for me is their cash depletion
> From 29mil last qrt to 12mil this qrt
> They need Galoc to get going and the oil price at over $60 to have a hope on realizing their huge potential, otherwise I feel they could stagnate for a while just because of the need to conserve cash.
> 
> However the market has been positive (up 6% against the trend) so its all good.





Was up almost 9% this morning and I was all smiles... Less than an hour later it was down 3%... A massive drop! What the hell? Profit taking perhaps?


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## nick2fish

I really have no idea in what the constant downward pressure is all about

OEL qrtly out and they are up 10% even though they have flagged a possible capital raising.

Mind you Oel have only 492,673,863 shares on issue compared to NDO's 1,050,814,774.

Lets hope they get on with the annoucement of a farmin partner


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## S73417H

nick2fish said:


> I really have no idea in what the constant downward pressure is all about.




People are scared of the little guys and oil right now. Those two factors coupled with debt are dragging Nido down. Getting production back up and running is going to be critical for them. Should be soon.


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## nick2fish

Yep....I wouldn't be going anywhere yet....Mid Feb production kicks off and the oil barrel price once again over $50.....That's the scenario I'm picking anyway.

Once again don't see any gremlins in the qrtly and like you say just got to keep the money flowing. Plus the fact that they are sitting on two oil discoveries of reasonable size means I'll be topping up if sp drops below 0.07c. Cheers


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## S73417H

An interesting Nido/Galoc related article which touches briefly on some of the economic and political factors surrounding Nido Petroleum.

http://www.bworldonline.com/BW013009/content.php?id=059


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## nick2fish

Hi, S  Nice Work

The Pro-active, aggressive promotion of the oil discovery industry by the Philippine Government was a big draw card for me. I started out with OEL, but swapped to NDO solely because of their Superior local experience.

I'll just cut and paste an important quote from that link for others, Cheers


_*The field is expected to bring in much-needed revenue for the government. According to Nido petroleum Ltd. (Nido), which owns about a fifth of the enterprise, the cost of oil from Galoc is just $15 per barrel, much lower compared to Dubai crude (whose price has been fluctuating around $40 to $50 per barrel lately). Oil from Galoc, known as the Palawan light, is expected to generate savings for the country worth a billion dollars during its lifetime. Another co-owner, Otto Energy Ltd. of Australia, also expects to start the drilling of the second well of Galoc two years from now to extract more oil. *_


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## Wysiwyg

Yes thanks for that story.The start up delay must have cost them millions in revenue.The pollutants from a rig are rarely mentioned.


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## S73417H

Yeah, I think the paragraph pointed out by Nick is a very important one when attempting to analyze Nido's market potential. 

The Philippine government is really pushing for that local source to be utilized to its full potential. With its geographic location and cost to extract, transport and refine, Nido is in a really favorable position.

You would also think that will the lower costs associated with bringing that oil to market, Nido should be less affected by the current price of oil because the profit margins should be all that much larger.


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## S73417H

NDO slipping substantially in this mornings trade. Getting close to my stop loss.... Moving with the market or suffering for some other reason? 

Haven't been able to find any news on recent Galoc repair activities.


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## S73417H

As a follow up to my previous comment. Looks that the ASX requested a "please explain" to NDO today. NDO has in turn responded with an ASX announcement effectively stating that they have no idea why there was such a significant share price drop off today. They also offer some insight into the state of riser repairs - which seem to be positive.

Maybe those who are a little bit more adventurous will test fate and find a good buy in price tomorrow.


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## S73417H

Nido in the news today. Failing to meet stated resumption of production... 

http://www.bworldonline.com/BW021909/content.php?id=041

Still, i think it's probably a great time to buy. At current price it looks to be ripe for the picking. Might top up tomorrow.


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## jonojpsg

S73417H said:


> Nido in the news today. Failing to meet stated resumption of production...
> 
> http://www.bworldonline.com/BW021909/content.php?id=041
> 
> Still, i think it's probably a great time to buy. At current price it looks to be ripe for the picking. Might top up tomorrow.




Hmm, yes I considered that today as well.  Was wondering what was happening with the reconnect, but I guess if they can improve their disconnect rate significantly while they're at it then it will pay off fairly quickly.  Definitely agree that on resumption of production there should be a reasonably profitable trade to be made if one got in now IMO 

Might join you on that top up 
DYOR


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## S73417H

Well it's about time! Production is once again online. Now my sights are set on finding that strategic partner.


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## jonojpsg

jonojpsg said:


> Hmm, yes I considered that today as well.  Was wondering what was happening with the reconnect, but I guess if they can improve their disconnect rate significantly while they're at it then it will pay off fairly quickly.  Definitely agree that on resumption of production there should be a reasonably profitable trade to be made if one got in now IMO
> 
> Might join you on that top up
> DYOR




Was this a no-brainer or what  Sold down on production issues which were always going to be solved positively, and made 30% gain in two days.  Did anyone else get on this?  Just kicking myself that I didn't chuck everything I had into it, could have made back some of the @#%!load of losses from the last 12 months


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## S73417H

I certainly cashed in on it. Have made a nice little packet over the past two days. However I'm not ready to run for the hills yet! With steady income and the strategic partner search still underway I'm going to ride this one out. 

Rises in oil prices will really help the Nido cause as well


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## glads262

Good trading for the past few days!
Have made some on a buy @ .067, and will hold. But I have purchased and held at .50, .12 and .08. Probably breaking even.

I think this share is probably the pick of the Australian listed Juniors. They have fantastic tenements, they are making cash to fund exploration (which has been successful.)

Just like everyone else though, they need a higher oil price, as this will help not only NDO, but any potential investment partner for their much larger tenements!

I would think that with a December deadline for submissions, NDO probably knows who would LIKE to participate, but no-one is willing to sign on the dotted line whilst their own cashflows are under pressure and they cannot afford their own exploration/development let alone anyone elses. 

I am willing to hold for the long term, as I am a believer that the oil price will begin to improve in the next 3-6 months, which should assist NDO & its quest to find a partner.


----------



## nick2fish

Jeez,news on finding a 30 million barrel resource ain't what it used to be 

do you reckon the story to my grandkids that I brought NDO at 0.8c will be a hard sell or what


----------



## glads262

Nick, I have visions of you bending over your walking frame, chuckling fondly!!

I think this stock has fantastic potential (refer previous post) and, factoring in a much higher oil price ($100-200 per barrel) in 5 years time, should be trading at huge multiples to where it is now. Its share price reflects a company with only 1 oil prospect, currently producing all right cash - but with a life of 10 years or so (I think that is what the production life of Galoc is)

There is absolutely bubkis priced in for the two new discoveries, or any of the other potential finds out there - not to mention being priced at current oil prices. Even if POO moves up to $75 bucks, this will roughly triple current cashflow. Will this result in a tripling of the share price?? Lets see...

PS - maybe you should keep a journal - this should provide the grandies with a riveting bedtime story!


----------



## nick2fish

They'll never sleep for a week, if I  don't leave anything out...

I worry that with the downward pressure on the NDO sp that I am missing something. Oh well if it gets to 0.7c, I'm in again and I see another story coming up  Cheers


----------



## glads262

Judging by the rest of the market, it is just generalised selling. Perhaps margin calls?
If NDO is up for the last few days, typical investors sell shares that they are "ahead" with because it makes sense to sell out if you have made money instead of selling the dogs in your portfolio that you are losing on - hanging on until you have "made your money back"

I'd refer to my previous post again - if the SP drops back a little, it should be supported by smart money entering the stock - those that beleive in the long term prospects (ie such as the buy in's from fund managers recently around 6/7 cents.


----------



## S73417H

In again yesterday at 0.078. Was counting on the price to complete a Bollinger bounce and head for greener pastures. Payed off well


----------



## nick2fish

Well its payday for you today, my friend 
NDO doing some serious trendbusting, somethings up and it must be good


----------



## S73417H

Yes indeed, I have been watching it like a hawk since the open . Expecting big things in the coming weeks. Do you think this new interest has been sparked by Kairiki's farm-out news?


----------



## nick2fish

Yep should help out quite a bit, but that was last weeks news. Today up 12% as I write on 11 million shares, and more importantly against a decline in oil stocks, I am thinking more news to come. Lets hope so....


----------



## glads262

Could be new news, or just institutional buying for end of quarter. There has been a bit of interest of late. Good volume though. Would love to see this one in the double digits (ie 10c, 11c) as this should give people further confidence that company isn't just a penny stock, and hopefully more inst have a look at it. It is an ASX200 stock after all (I think from memory...)


----------



## glads262

Wish I put my money where my mouth is. Just watched 4million volume in about 7 minutes. The buys are building at 10c, the sellers at 10.5c are being knocked out. NDO is up 10% on a day where POO is down 7%. Interesting. May still be institutional placing??? 
I notice NDO got speeding ticket which it screwed into a ball and threw out the window (ie no information forthcoming)
Anyone got any further hypothesis?


----------



## rhyslivs

Does anyone else feel that the trader's may have gotten hold of NDO in the last couple of days?

Its behaving like SDL was a bit under a year ago.


----------



## glads262

You might be right. Depth showing large build in buys now at 9.9c with HUGE build in sells at 10.5c. With huge volatility over the last few days, this is not how this stock has behaved since I have been watching. Perhaps traders buying at 9.9c/10c hoping to sell at 10.5c?? or vice versa?? or both happening at once??


----------



## S73417H

There is some fundamental force driving this stock up and I cannot see one other than finally reaching a farm-in agreement. Up another 8.25% today as a result of this posting. I smell something brewing and it smells sweet.

Then again I could be completely wrong and it is just institutional buying.


----------



## jonojpsg

S73417H said:


> There is some fundamental force driving this stock up and I cannot see one other than finally reaching a farm-in agreement. Up another 8.25% today as a result of this posting. I smell something brewing and it smells sweet.
> 
> Then again I could be completely wrong and it is just institutional buying.




I find it difficult to believe that management would respond so flatly in the negative to the speeding ticket if they were close to signing a deal.  They stated that any discussions were in the early stages, which I would have thought means at least 1-2 months until anything comes of them.


----------



## J.B.Nimble

rhyslivs said:


> Does anyone else feel that the trader's may have gotten hold of NDO in the last couple of days?




I've no doubt they have and not for the first time. This has been a bit of traders favourite. I don't mind taking some profit while they play



S73417H said:


> There is some fundamental force driving this stock up and I cannot see one other than finally reaching a farm-in agreement. Up another 8.25% today as a result of this posting. I smell something brewing and it smells sweet.
> 
> Then again I could be completely wrong and it is just institutional buying.




This must be one of the most anticipated farm-in deals of recent times so it remains to be seen whether an announcement will give us much of a lift - see Shell/FAR for an example of that. I think the movement is as fundamental as slowly rising POO, building awareness that peak oil has not gone away, and the thought of 11 billion barrels off shore Palawan. If the traders want to play along they are more than welcome, but I hope to be still holding a few when we get a welll down in the deep water...


----------



## rhyslivs

I've got a question thats not necessarily specific to NDO but relates to it. How do the trader's know where they are going to congregate for a day? It fascinates me!

Also, it looks like some longer term resistance at 12c. Could go for a decent run if it breaks through that.


----------



## glads262

it depends on the size of the traders. Todays turnover so far is "only" 10 million shares. Thats "only" a million bucks.

If traders are taking large positions of $50k on the stock, thats only 20 traders. 

There are huge orders in the queue, but again this could only be a handful of traders. They are playing each other. 

Personally, I don't have the balls to throw this sort of money around an otherwise illiquid stock. It only takes 2 or 3 BUY orders to disappear for the SP to fall apart quickly as everyone moves to sell out of their position.


----------



## S73417H

Great to see shipmentss coming out of Galoc.


http://www.philstar.com/Article.aspx?articleId=454941&publicationSubCategoryId=66
http://mb.com.ph/articles/201313/4th-delivery-galoc-oil-set-next-week


----------



## S73417H

Does anyone believe that OEL's recent misfortune in failing to secure a positive farm-in agreement with BHP affects NDO in any way for better or worse?

http://www.upstreamonline.com/live/article175099.ece


----------



## J.B.Nimble

I doubt that OEL's failure to satisfy all necessary conditons and approvals by the HOA deadline says anything meaningful about NDO's prospects for doing the same. I think this speaks more of OEL rather than the projects and prospects.


----------



## S73417H

Any thoughts on the appointment of William Bloking as chairman of Nido? He certainly seems to have some fantastic credentials as former President of Australia Gas of BHP Petroleum.


----------



## J.B.Nimble

S73417H said:


> Any thoughts on the appointment of William Bloking as chairman of Nido? He certainly seems to have some fantastic credentials as former President of Australia Gas of BHP Petroleum.




Credibility and connections... can't hurt. 
Hmmm... wonder if BHP will be in the shortlist for farm-in partner.


----------



## spottygoose

S73417H said:


> Any thoughts on the appointment of William Bloking as chairman of Nido? He certainly seems to have some fantastic credentials as former President of Australia Gas of BHP Petroleum.




And then there was NWE, not so great.... better luck with NDO I hope. fill in, fill in, fill in etc etc etc blah


----------



## S73417H

J.B.Nimble said:


> Hmmm... wonder if BHP will be in the shortlist for farm-in partner.




I suspect they are. The hiring would certainly help in better aligning Nido with BHP. Either way, he looks to have the skills required to make things happen.


----------



## adds

a lot of buyers trying to get in at .10 the past couple of days, and still a few wanting in at .10. A lot seem to want to sell at .12 so assume this is the traders having fun... Anyone got any thoughts on the market depth?


----------



## J.B.Nimble

adds said:


> a lot of buyers trying to get in at .10 the past couple of days, and still a few wanting in at .10. A lot seem to want to sell at .12 so assume this is the traders having fun... Anyone got any thoughts on the market depth?




Plenty of bucks being made trading this but the real story is fundamentals (good enough) and potential (outstanding - 11 billion bbl prospects). Longer term I'm confident this will go on a long journey in the right direction


----------



## glads262

adds said:


> a lot of buyers trying to get in at .10 the past couple of days, and still a few wanting in at .10. A lot seem to want to sell at .12 so assume this is the traders having fun... Anyone got any thoughts on the market depth?




I'm with you on the traders. Need some genuine buyers to come in to push the SP higher. I guess a lot got in in the 8/9c marks, and are happy to make a short term profit at 10.5/11c. Doesn't look like traders can push this too much further with 3/4 million volume at 11/12c. 

Perhaps some fresh news will be the only thing to do it (or a POO spike)
Anyone have insight into when any drilling results should be out?
Waiting for that farm-in too!


----------



## glads262

Director selling 1.5 million shares not helping either. thats about half of yesterdays volume. This may have been what has stopped the rise in the past few days. Thanks Joanne.


----------



## S73417H

glads262 said:


> Perhaps some fresh news will be the only thing to do it (or a POO spike)
> Anyone have insight into when any drilling results should be out?
> Waiting for that farm-in too!




No farm-in yet, but at least they are moving some nice orders now.

http://www.istockanalyst.com/article/viewiStockNews/articleid/3197826


----------



## S73417H

Seeing this back and forth trading again. When will these traders bite the bullet and keep some money in the pot?! :


----------



## nick2fish

Maybe they left some in today, 17mil vol and 16% rise...and of course no news, that I am aware of.


----------



## Adam A

Had a small write up in the weekend fin review,mentioning that nido has two oilfields comming online in the next 12 to 18 months  

Could explain the rise?


----------



## nick2fish

Thanks Adam, missed that one. 17 mil volume represents a fair bit of interest for the rise makes me think of an insitutional buy or some spec on upcoming news. Cheers


----------



## jonojpsg

Adam A said:


> Had a small write up in the weekend fin review,mentioning that nido has two oilfields comming online in the next 12 to 18 months
> 
> Could explain the rise?




Yep, saw this and I figure that's exactly what's given it a boost.  Weekend fin rev has readership of 180thousand and I would think that many of those would have the resources to shift some cash towards potentially rewarding investments.  Even if only 1 in 100 did something about it that still makes an extra 1800 punters having a go.   

Let's hope they spruik it to all their mates as well


----------



## S73417H

Interesting. Very strong volume today. Strongest rise in quite some time. Will be nice to see if this is NDO making the break to the 15c-17c mark.


----------



## glads262

two new oilfields?? 

They are not quite there yet... They need to spend a good $50 million for that - and I don't think they'll have that sort of cash to spend in the next 12-18 months. They will probably take 2-3 years. They are good finds though, and were not priced in by the market when announced.

We'll see if this price rise can stick with a drop in the POO. The sellers seem to have pushed down the last couple of rises towards 12c.


----------



## nick2fish

Correct, but if NDO and partner KIK farm out to a major, then development and production would be attainable in that time frame. If the price holds today that would be an indication to me that something behind the scenes is happening.


----------



## S73417H

nick2fish said:


> Correct, but if NDO and partner KIK farm out to a major, then development and production would be attainable in that time frame. If the price holds today that would be an indication to me that something behind the scenes is happening.




I tend to agree. I think NDO's finds are very attractive to the majors and I wouldn't be surprised if they come to a partnership agreement in the next 3-6 months. 

Today, NDO left me with a big smile on my face and I hope the future stretches it bigger and biggger.


----------



## jonojpsg

S73417H said:


> I tend to agree. I think NDO's finds are very attractive to the majors and I wouldn't be surprised if they come to a partnership agreement in the next 3-6 months.
> 
> Today, NDO left me with a big smile on my face and I hope the future stretches it bigger and biggger.




Agreed - I remember a mate of mine put me on to these back in 2004 and they were 4c then.  I traded them every now and then but when they released that chart showing their prospects and potential volumes last year with those big three +1bn barrel leads and total of 11bn+ barrels potential I thought I should get on them seriously.  Am still accumulating while they're at this level coz I reckon that once a major gets on board and they tackle those leads it will only take one big one to make this a multi-bagger IMO


----------



## Lock

https://commerce.us.reuters.com/purchase/showReportDetail.do?docid=45031260

"Nido Petroleum Ltd. is an Australian oil and gas exploration and production company with a functioning producing arm centered around Nido’s participation in the Galoc Oil Field, which entered production in early October 2008 and has produced over 1MMstb to date. Nido has bright exploration and development indicators for its other service contracts 54, 58 and 63. Revenue is expected to climb over 2009 and remain growing into 2013 as Yakal and Tindalo deposits in Service Contract 54, and eventually another structure of SC54 or another service contract are expected to cycle into revenue generation. Given due diligence and valuation estimations, Arrowhead believes the share price is strongly undervalued and should align in the AUS$ 0.56 to AUS$ 1.27 bracket . Positive 2008 results announced in March 2009 as well as consistent production at Galoc through 2009 should promote Nido’s share price. The price of oil as well as general macro financial factors such as the uncertainty on cuts in Australian interest rates could affect the share price adversely or favorably. "


----------



## jonojpsg

Lock said:


> https://commerce.us.reuters.com/purchase/showReportDetail.do?docid=45031260
> 
> "Nido Petroleum Ltd. is an Australian oil and gas exploration and production company with a functioning producing arm centered around Nido’s participation in the Galoc Oil Field, which entered production in early October 2008 and has produced over 1MMstb to date. Nido has bright exploration and development indicators for its other service contracts 54, 58 and 63. Revenue is expected to climb over 2009 and remain growing into 2013 as Yakal and Tindalo deposits in Service Contract 54, and eventually another structure of SC54 or another service contract are expected to cycle into revenue generation. Given due diligence and valuation estimations, Arrowhead believes the *share price is strongly undervalued and should align in the AUS$ 0.56 to AUS$ 1.27 bracket *. Positive 2008 results announced in March 2009 as well as consistent production at Galoc through 2009 should promote Nido’s share price. The price of oil as well as general macro financial factors such as the uncertainty on cuts in Australian interest rates could affect the share price adversely or favorably. "




Nice first post Lock   Gotta love price targets like THAT given current SP - makes for a multi-bagger


----------



## S73417H

Good spot. Confirms what most of us on this thread already knew Seems like a great time for another top up


----------



## sandybeachs

*mention in patersons market report*

no doubt recommendation will improve as markets improve.

from what you read 1) markets have been improving 2) oil price has also been improving.

page 4

https://secure.psl.com.au/library/YMD090505.pdf


----------



## sandybeachs

*Palawan Light Oil could be fetching approx US$52bbl*

here's the deal..

Palawan Light could be fetching around US$52bbl (Brent US$54bbl).

convert that into AUD$ = AUD$71bbl (excluding taxes etc etc)

Nido's interest in Galoc Oil Field 3190 BOPD X AUD$71bbl (excluding taxes etc etc) = AUD$226K per day (excluding taxes etc etc)

with a stab in the dark NET revenue could be AUD$45bbl X 3190 = AUD$144K per day.

correct me if i'm wrong


----------



## sandybeachs

*Re: Palawan Light Oil could be fetching approx US$52bbl*



sandybeachs said:


> here's the deal..
> 
> Palawan Light could be fetching around US$52bbl (Brent US$54bbl).
> 
> convert that into AUD$ = AUD$71bbl (excluding taxes etc etc)
> 
> Nido's interest in Galoc Oil Field 3190 BOPD X AUD$71bbl (excluding taxes etc etc) = AUD$226K per day (excluding taxes etc etc)
> 
> with a stab in the dark NET revenue could be AUD$45bbl X 3190 = AUD$144K per day.
> 
> correct me if i'm wrong




Brent up last night currently approx US$56.15bbl..

with approx 3190bopd net Nido's interest, sure adds a few $$$$ into the bottom line.

see below weekly chart 6 months.


----------



## monkeymajik

Bit of a drop from open today after 

"Nido Petroleum Limited (Nido) has been advised by the Operator, the Galoc Production Company (GPC), that a category 1 Typhoon Chan-Hom, is passing 300 nautical miles to the north of the field. GPC further advises that production has been temporarily shut-in and preliminary preparations are being made in the event that it becomes necessary to disconnect the FPSO from its mooring."


----------



## S73417H

Time to test out this new fangled hold back mooring system.  Hopefully this thing will pass on by.


----------



## sandybeachs

*Typhoon Emong (Chan Hom)*



S73417H said:


> Time to test out this new fangled hold back mooring system.  Hopefully this thing will pass on by.




i do have some faith that previous problems have been sorted out.

we should see reconnection far more easier than it has been in the past.

"PALAWAN, PHILIPPINES: The Galoc Production Company (GPC) is suspending production at the Galoc field due to category 1 Typhoon Emong (Chan Hom) passing 300 nautical miles (1,666.8 km) to the north of the field." 

at least the Typhoon is passing some distance from the actual oil field, they are probably just contending with some rough seas.

http://www.energycurrent.com/index.php?id=2&storyid=17912


----------



## S73417H

I'm curious to see how much down time they have now that they have dropped the gear on the sea floor.


----------



## sandybeachs

S73417H said:


> I'm curious to see how much down time they have now that they have dropped the gear on the sea floor.




may be we should have a competition "closes to the pin wins".

my guess would be weather permitting starting reconnection taking approx 48 hours..(2 days). so i hope it's back producing by next Wednesday..


----------



## S73417H

I'm going to say late Thursday. 

On a side note. The fact that the share price has show resilience even after the disconnect (to me) is a very good sign. People are sticking with NDO.


----------



## sandybeachs

*Nido Petroleum puts in another green week*

Nido managed another green candle this week.

even with Galoc temp suspended because of bad weather.

seems as though people are thinking markets are on the rise so it's time too re-enter once more.

see below weekly chart 6 months.


----------



## sandybeachs

Nido's jumped out fairly well this morning.

as yet no news regarding Galoc recommencing production.

i've checked around and also haven't any news re above.

fingers crossed markets & oil price keep heading north.


----------



## S73417H

I'd love to known how they reconnect after disconnecting. Is the process fairly simple? Is there some mechanism (i.e. flotation devices or tethers) that allow them to retrieve the riser system from the sea floor with ease? Or do they require divers each time? If anyone with technical knowledge could answer this that would be great.


----------



## sandybeachs

S73417H said:


> I'd love to known how they reconnect after disconnecting. Is the process fairly simple? Is there some mechanism (i.e. flotation devices or tethers) that allow them to retrieve the riser system from the sea floor with ease? Or do they require divers each time? If anyone with technical knowledge could answer this that would be great.




i've got a vague idea, but i'm waiting for my contact to call me back (just so we get the details right).

in the meantime see diagram


----------



## adds

What happened today? I'm noticing a lot of big trades went through today, a few around the 100k mark and one as big as 165k worth for 1mil units! There was also a number of trades between 20-50k worth. I wonder if someone knows something... Maybe the JV is coming?  or is this purely due to the rising POO? Sandy can your contact help with this also


----------



## S73417H

POO pushing through to $60. Investors moving stronger towards oil. NDO starting to generate sustainable income. Other wells looking more and more likely to come to fruition in the next year. And the farm-in partner still looming. There is lots on the horizon. NDO is still highly undervalued and investors know this. Confidence is returning.

Lots of factors are influencing recent profits.


----------



## monkeymajik

I'm a bit slow on the old uptake and was one of the many who got in yesterday. 

Better late then never.


----------



## sandybeachs

*oil production restarts at Galoc Oil Field*

this is great news.

especially with an oil price thats heading upwards.

Palawan Light may be fetching around US$57BBL. (Brent currently around US$58.50bbl)

Nido's interest approx 3,200BOPD.


----------



## sandybeachs

*Nido's AGM this Friday 15/5*

phew i'm glad they have Galoc up and running again.

past 12 months have been positive for Nido, for example  2 oil discoveries Tindalo #1 & Yakal #1.

Galoc has provided a good cash flow (although it could have been better).

we may see share price go higher after presentations.


----------



## sandybeachs

*Re: oil production restarts at Galoc Oil Field*



sandybeachs said:


> this is great news.
> 
> especially with an oil price thats heading upwards.
> 
> Palawan Light may be fetching around US$57BBL. (Brent currently around US$58.50bbl)
> 
> Nido's interest approx 3,200BOPD.




another update just out..

oil production hasn't actually started yet, still undergoing testing..

that's a shocking mistake by Nido.

here's hoping production starts a.s.a.p


----------



## monkeymajik

Third update, back producing again 6 days after disconnecting due to typhoon.

_Nido also wishes to advise that:
• On 6 May 2009 it received the proceeds from the sale of crude oil cargo number 4 direct from the buyer.
• Proceeds from cargo number 5 (approximately 75,000 barrels net to Nido), which has just been lifted, will be received in early June;
• Cargo number 6 is scheduled for offtake in early June; and
• Since our last notification to the market, cargo number 7 has now been forward sold and is schedule for offtake in late June/early July_


----------



## sandybeachs

*Re: oil production restarts at Galoc Oil Field*



sandybeachs said:


> another update just out..
> 
> oil production hasn't actually started yet, still undergoing testing..
> 
> that's a shocking mistake by Nido.
> 
> here's hoping production starts a.s.a.p




annoucement just out, seems like Galoc is now flowing..

Brent currently US$59.70BBL, Palawan Light could be fetching around US$58bbl..

keep the faith..


----------



## sandybeachs

*we may crack 20 cents by weeks end*

with a little bit of luck we may crack 20cps by weeks end.

news will spread that Galoc is flowing again.

there's a good possibility that oil could hit US$60bbl this week (currently Brent US$59.63bbl).

Nido's weekly chart also looking good.


----------



## S73417H

Great announcement from Nido today. They have committed to pursuing Tindalo now. This means that within a year NDO's income has to potential to double. Great long term prospect.


----------



## monkeymajik

Expected NDO to bounce back today with the oil price?  Maybe loss in confidence due to retirement of Director announcement?


----------



## glads262

Interesting one this.

Talk on Hotcocker, is that fund managers that bought in sub 10c, are selling into the rally from the Tindalo announcement. A profit is a profit.

This makes sense, as they need volume to sell into.

This may have capped the SP. There are still a lot of traders hanging around though. 

Question is, long term buying should still be coming through - when will this begin to happen again?? 

NDO is still a bargain at 15c, With the Galoc production probably worth this much per share. Then there's Tindalo, 21 other prospects in SC54, and the elephants in the other prospects that will be drilled with a farm in.

Perhaps, if NDO has spare funds towards the end of the year (quite possible if POO keeps moving higher) they may drill another couple?? Would be risky doing it themselves, but hey - what is the cashflow for?? And if no-one is willing to farm-in at the moment - it just leaves more spoils for NDO if they strike. 
This future drilling will be what propels the SP.


----------



## fureien

ive been following this stock since it was under 10 cents. but i had all my capital tied up in other stocks. in light of recent news ive decided to put my money into ndo, main reason being that its a very very nice looking long term stock. and as glads262 put it nicely, ndo is still a bargain at 15cents


----------



## nick2fish

Quote From Nido Web page
_"You will notice an announcement regarding the selling of shares by myself and my partner.  In these times of uncertainty, I believe there is a higher level of disclosure required.  Australia is a great country but a very expensive place come tax times.  The stock sold was to pay the tax man and is no reflection of the quality of the company and the future that it presents to all of us.  

Thought you might like to know.

Cheers

David Whitby"_
                  Unquote

And yes I did want to know and now that I do all is good


----------



## adds

Hi All,

A good day for NDO and looks like its got a fair bit more to go. I see a large H&S (yellow line represents the neckline) and more recently (I'm not Elliot Wavist) but I see we've just had a 5 wave uptrend, followed by a 3 wave corrective pattern. Can we get an experienced Elliot Wave practitioner to comment on this?

All other indicators are looking good increasing volume, rsi pointing up, macd about to cross over, POO in an uptrend currently at $66.

Disclaimer: I'm no Elliot Wavist (but am trying to learn). I hold. Remember DYOR.

Chart:


----------



## S73417H

adds said:


> Hi All,
> 
> A good day for NDO and looks like its got a fair bit more to go. I see a large H&S (yellow line represents the neckline) and more recently (I'm not Elliot Wavist) but I see we've just had a 5 wave uptrend, followed by a 3 wave corrective pattern. Can we get an experienced Elliot Wave practitioner to comment on this?
> 
> All other indicators are looking good increasing volume, rsi pointing up, macd about to cross over, POO in an uptrend currently at $66.
> 
> Disclaimer: I'm no Elliot Wavist (but am trying to learn). I hold. Remember DYOR.
> 
> Chart:




Very nice technical analysis. I would also be very interested in getting an Elliot Wave analysis on this one.


----------



## stocksontheblock

Hi, I have been reading the posts around this stock and it appears to have some legs in the long run - I mean in the next couple of years! I only came across them a few weeks back and have them in my watch list.

Not looking for advice - as such - yet have about a $1000 to spend on a small cap stock which might make some great returns in the long run. Trading at .15c to .18c it looks like it could be a nice earner.

However, just looking for any opinion, good or bad, on whether this stock might really have the long life that I think it has. Once again, not looking for indepth analysis, yet just a general: this is a good stock, so go and take the punt, or put your money elsewhere as the potential on this stock is not as good as it might appear.

Thanks for your help guys & girls.


----------



## fureien

adds said:


> Hi All,
> 
> A good day for NDO and looks like its got a fair bit more to go. I see a large H&S (yellow line represents the neckline) and more recently (I'm not Elliot Wavist) but I see we've just had a 5 wave uptrend, followed by a 3 wave corrective pattern. Can we get an experienced Elliot Wave practitioner to comment on this?
> 
> All other indicators are looking good increasing volume, rsi pointing up, macd about to cross over, POO in an uptrend currently at $66.
> 
> Disclaimer: I'm no Elliot Wavist (but am trying to learn). I hold. Remember DYOR.
> 
> Chart:




hey adds can you explain how rsi, poo (also wat does POO stand for, when i first heard it i thought it was a stock code lol) and macdur shud be used. like u said macd about to cross over. clearly thats an indicator, but how do we use it. like what do they indicate?


in other news, this stock is like a tortoise, slow creeps upward but its going up never the less!
ive been watching it since it was 9 cents, but finally bought in at 15 cents, ever since then its made no intra day movements, but its now 17.5 cents purely from high day opens lol
my portfolio says 0% change every day but over im up like 17%
i find this hilarious


----------



## adds

fureien said:


> hey adds can you explain how rsi, poo (also wat does POO stand for, when i first heard it i thought it was a stock code lol) and macdur shud be used. like u said macd about to cross over. clearly thats an indicator, but how do we use it. like what do they indicate?
> 
> 
> in other news, this stock is like a tortoise, slow creeps upward but its going up never the less!
> ive been watching it since it was 9 cents, but finally bought in at 15 cents, ever since then its made no intra day movements, but its now 17.5 cents purely from high day opens lol
> my portfolio says 0% change every day but over im up like 17%
> i find this hilarious




Hi Fureien,

Check out http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators for a list of indicators and how to use them. It has a list of the indicators including the ones I've mentioned. For me to explain it properly its hardly going to be a small post. Macd and rsi are probably 2 of the most popular indicators so I would recommend reading up about them.

As for POO it stands for Price Of Oil.

Hope this helps.

Cheers,


----------



## S73417H

After reading up a bit more on the Elliot Wave pointed out by Adds, I must say, NDO has reflected the wave to perfection.... Just thought I would drop that in. Again, nice spot Adds!


----------



## fureien

adds said:


> Hi Fureien,
> 
> Check out http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators for a list of indicators and how to use them. It has a list of the indicators including the ones I've mentioned. For me to explain it properly its hardly going to be a small post. Macd and rsi are probably 2 of the most popular indicators so I would recommend reading up about them.
> 
> As for POO it stands for Price Of Oil.
> 
> Hope this helps.
> 
> Cheers,




thanks very helpful mate! yeh i use macd and other stuff, but i never actually understood them or what the lines mean when they cross etc. great link

Price of Oil OHHHH!!! lol everything makes sense now


----------



## S73417H

NDO is pushing hard to break the 18c resistance level today. Fingers crossed that it makes it. 

Blah blah....


----------



## JWR

What are the short term prospects of this one. I picked up 50000 at 16c last week. I think it looks cheap and could run from here.


----------



## jonojpsg

JWR said:


> What are the short term prospects of this one. I picked up 50000 at 16c last week. I think it looks cheap and could run from here.




Hmm, well the POO rise over the last month has certainly helped and IMO that rise will continue over next six months (although could be ups and downs on the way!).  

Announcement re fasttracking production from Tindalo has obviously percolated through and as 2010 approaches will most likely add a few more c to SP.  

The biggie though is getting a farmin partner for their potentially huge targets - if/when that happens SP could definitely take off - don't know about timeline for that but negotiations are underway so could happen in next 3-6 months.

DYOR though!


----------



## JWR

NDO has raced up today again. Is it due for a pullback soon, or do you think it will keep going strong? looking at the charts, it looks lovely, but being a fairly small company, I'm worried my profits coulod erode on a couple of bad days. Any thoughts in the short term?


----------



## jonojpsg

JWR said:


> NDO has raced up today again. Is it due for a pullback soon, or do you think it will keep going strong? looking at the charts, it looks lovely, but being a fairly small company, I'm worried my profits coulod erode on a couple of bad days. Any thoughts in the short term?




JWR you sound like me a couple of years ago  Mate if you're in for short term, you need to set yourself targets and stops accordingly.  So you have made $2000 on your initial $8000 in a week or so, a 25% gain which is pretty good IMO.  

Agreed the SP might continue to run however you need to consider the impact this will have on the market capitalisation, eg at the moment NDO is valued at about $200m.  So if the SP runs to 30c, they will be valued at $300m, a pretty hefty jump but not out of the question.  The question is, are they worth it?  Again, if you're in for short term, ie days/weeks, then who cares if they're worth it as long as the SP rises

An example of what you might do is to set a stop loss at 18c and run with it, if it drops back you still get your $1k profit, and you don' have to worry about whether you lose out.  Check each day and move stop loss up with the SP.  ANyway, I'm not giving advice, just pointing out a possible course of action - others might disagree and say take your profits, others might say the SP is going to double tomorrow

The important thing is to DYOR and make decisions that YOU are happy with - no regrets!


----------



## fureien

jonojpsg said:


> Agreed the SP might continue to run however you need to consider the impact this will have on the market capitalisation, eg at the moment NDO is valued at about $200m.  So if the SP runs to 30c, they will be valued at $300m, a pretty hefty jump but not out of the question.




hey jono, what do u mean by it is valued at $200m? how do u calculate this figure? and what does it mean? sorry still learning


----------



## Sean K

fureien said:


> hey jono, what do u mean by it is valued at $200m? how do u calculate this figure? and what does it mean? sorry still learning



You times the shares on issue by the current share price to get market capitalisation. If they're at 20c and they have 1b shares on issue they are worth $200m. Need to check how many options they have and calculate what they would be worth if excised to get fully diluted market cap.


----------



## Miner

kennas said:


> You times the shares on issue by the current share price to get market capitalisation. If they're at 20c and they have 1b shares on issue they are worth $200m. Need to check how many options they have and calculate what they would be worth if excised to get fully diluted market cap.




My good ness posting was made at 1.23 AM .

Don't  you sleep Kennas ?

I told before our moderators do not sleep with one eye on this ASF and the other eye on the share chart 

Have fun and thanks for keeping ASF a nice one too


----------



## Lock

NDO is looking good. 22.5 to finish the week would be nice looking towards 25.
crude still going up, over 72$ now. Those predictions of 75$ might come true sooner than we thought.


----------



## trader10

Yes, Nido technicals have been looking good for a while now..... and yes we did close in black this arvo 

It would be nice to see POO staying above $70.73...the resistance..... Hopefully no Oil traders are taking profits tonight..... so it can estabilise and close around highs $71s to $72's....

That support at 19c - 19.5c is looking nicely done atm..... Hopefully we can break clean that resistance at 22c..... perhaps next week ?  

http://www.livecharts.co.uk/MarketCharts/crude.php

Have a nice weekend all


----------



## S73417H

Boy I really really wish I day traded NDO today! Big pullback. But at least it has come swift rather than long and drawn out.


----------



## S73417H

Good to hear Nido fulfilling another 300,000 barrel shipment the other day. Things are coming along steadily. Right now trading on another point of resistance. Looks like another good entry point around this 17.5c - 18c mark.


----------



## adds

Quote from Nido website:

“You will notice a milestone with Galoc that was announced to the ASX yesterday – the declaration of commerciality of the field by the Operator, Galoc Production Company (GPC). This validates the work done so far by the consortium and provides us the opportunity to fully develop Galoc if the technical data and oil prices will support the same. We continue to work with the Operator and the rest of our partners to progress the ongoing subsurface work.

Another milestone particular to Nido is the fact that we have surpassed the 500thousand barrels of oil production from Galoc net to Nido. We are certainly looking forward to many more barrels of oil! In the meantime, the field continues to produce and cargoes are being lifted for sale within Southeast Asia. The higher oil price environment has been helpful to our cash position especially as we continue to progress work on the Tindalo development.

Tindalo is occupying our efforts and energy. We are moving along completing our subsurface and engineering studies and evaluating commercial and production options. Our teams in Perth and Manila are working feverishly to get the appropriate permits and approval in place as well. The winter weather in Perth and the rainy season in Manila are certainly not dampening our spirits in this endeavor."

Jocot de Dios

24 June 2009


----------



## S73417H

adds said:


> The winter weather in Perth and the rainy season in Manila are certainly not dampening our spirits in this endeavor.




However it wont stop them from having to disconnect the FPSO again today! 

On a positive note...

I don't think that it is infeasible to see oil up around $90 a barrel by the end of the year. Nido is still on track for so great growth in the coming 6-12 months.


----------



## S73417H

Thought I might just throw a chart up as I haven't seen one on NDO in a while.

NDO Looks like it could be a buy at 17c with a sell at about 25c providing they hold above the current resistance level. I think they might track sideways a little bit longer before making a move. But i wouldn't rule out a break to 15c. Anyone else have a technical / fundamental analysis?


----------



## adds

Hi S73417H,

I believe that chart is actually wrong and so is the one I posted previously because IG Markets charts (provided by IT Finance) does NOT chart the exact open/close price particularly for penny stocks. They can NOT chart the 3rd decimal place correctly. Example if NDO closes at 0.185 the chart will show a close of 0.18. I picked this up when charting ndo the other week (see my post here https://www.aussiestockforums.com/forums/showpost.php?p=448844&postcount=314)

I have taken this issue up with IG Markets and this was their response:

_In regards to your query, please be advised that the discrepancy on charts are due to our chart provider is based in the UK. They are programmed to run from midnight to midnight so the information will not match our platform for daily open and close prices. The charts have always been set up like this unfortunately we can not change them to be synchronised with the market open and closed prices for pure deal._


----------



## S73417H

adds said:


> Hi S73417H,
> 
> I believe that chart is actually wrong and so is the one I posted previously because IG Markets charts (provided by IT Finance) does NOT chart the exact open/close price particularly for penny stocks. They can NOT chart the 3rd decimal place correctly. Example if NDO closes at 0.185 the chart will show a close of 0.18. I picked this up when charting ndo the other week (see my post here https://www.aussiestockforums.com/forums/showpost.php?p=448844&postcount=314)
> 
> I have taken this issue up with IG Markets and this was their response:
> 
> _In regards to your query, please be advised that the discrepancy on charts are due to our chart provider is based in the UK. They are programmed to run from midnight to midnight so the information will not match our platform for daily open and close prices. The charts have always been set up like this unfortunately we can not change them to be synchronised with the market open and closed prices for pure deal._




Thanx adds. I had no idea that IG markets charting software was that dodgy. Although I have come to expect that from them. That said however, I think the chart is more or less still valid. The relative resistance levels and trend depicted should still be more or less correct.


----------



## glendem2

*NDO - Nido Petroleum @18c*

Hi,
I have been following Nido for 12 months, ever since my brother suggested an investment last year. I've watched the shares fall from above 60c (Jun08) to 6c (Feb09). I use technical analysis to determine an entry and exit price. 

Initial investment required a breakout above the 10c resistance and then a retest of support at 10c. I entered a BUY at 10c with a Sell at 18c and stop loss at 8.5c.

Currently NIDO has support at 17c with strong resistance at 22c

I use Elliott Wave, MACD, RSI, STOC and Moving averages to help define a trade. Before I BUY, I have a target price and stop loss calculated. The best investment advise I would give is ALWAYS set a stop loss.

StockLine Australia is a good source for technical share price information


End of tax year selling pressure and low volume (less than 15m shares) has resulted in share price weakness over the last 2 weeks. Note: Nido was tading over 80m shares in May.

Nido has risen in predicatable waves

W1 6-10C
W2 8-12C
W3 10-16c
W4 13-19c
W5 15-21c

A 38.2% retracement of the rise from 6c to 21c gives a target price of 15c.

My next trade entry price is 15c, Target is 22c, with stop loss at 14c. If 17c holds for another 2-3 weeks, I will raise my entry price.

Note: Alot depends on the Oil price. There is strong resistance in the $73-$78 range. A pullback to test the breakout price at $55 would not be surprising.


----------



## SUNYA2006

hi, guys:
  Nido is stable above 17 cents for several weeks, so the investment chance will emerge for Otto because of so many similitude between those two company.


----------



## S73417H

News today that the mooring and riser system has incurred some damage during the last disconnection due to adverse weather conditions. Surely they can improve on the disconnection process to reduce the chances of damage to such components? 


Anyhow, good to see that the share price is staying somewhat firm in the face of a little bad news. 17c does seem to be quite a strong level of resistance. However we did briefly skip below it today. Lets hope it does not push through before the closing bell.


----------



## SUNYA2006

S73417H said:


> News today that the mooring and riser system has incurred some damage during the last disconnection due to adverse weather conditions. Surely they can improve on the disconnection process to reduce the chances of damage to such components?
> 
> 
> Anyhow, good to see that the share price is staying somewhat firm in the face of a little bad news. 17c does seem to be quite a strong level of resistance. However we did briefly skip below it today. Lets hope it does not push through before the closing bell.




Why do not you replace it with OEL because the price gap? Look taday's display of those two shares, I believe OEL is just catching up with Nido now.


----------



## S73417H

SUNYA2006 said:


> Why do not you replace it with OEL because the price gap? Look taday's display of those two shares, I believe OEL is just catching up with Nido now.




Because I am more partial to Nido. OEL's fundamentals for not appeal to me.

Just my personal view...


----------



## S73417H

Boy NDO is really being hammered over this latest incident. Hope they release some good news soon


----------



## Lock

id say some insto dumped a huge amount today moreso than ndos announcement.
its completely oversold now, RSI and stochastic both showing heavily oversold signals.

buy up cause it shouldnt be this low for long at all.


----------



## Lock

Announcement out, NDO Acquires additional 0.6% interest in Galoc.


Along with production update:

GPC has advised Nido that spares, equipment and vessels have arrived at the field location to effect the repairs and reinstate production, which is expected next week. A further off-take of more than 200,000 bbls of oil lifted (gross) was completed during the week.



Good news.


----------



## S73417H

Lock said:


> id say some insto dumped a huge amount today moreso than ndos announcement.
> its completely oversold now, RSI and stochastic both showing heavily oversold signals.
> 
> buy up cause it shouldnt be this low for long at all.




I agree. Got my buy signal today. RSI way down. Expecting a fairly big rebound in the next few weeks.

On a side note. Just read an article from The Bull that suggests Nido is one to watch due to its heavily oversold nature. 

http://thebull.com.au/articles_detail.php?id=4623

Still has some pretty darn good fundamentals and remains my personal favorite.


----------



## SUNYA2006

S73417H said:


> I agree. Got my buy signal today. RSI way down. Expecting a fairly big rebound in the next few weeks.
> 
> On a side note. Just read an article from The Bull that suggests Nido is one to watch due to its heavily oversold nature.
> 
> http://thebull.com.au/articles_detail.php?id=4623
> 
> Still has some pretty darn good fundamentals and remains my personal favorite.




Do not be so optmisitic. Please see the curve of OEL ,and more possibility of decline of EU and USA market, it is better for us to stop trade temporarily.


----------



## deeenieweeenie

Hi all, what's the going opinion of the NDO presentation for the Good Oil Conference? I have been watching NDO for a little while now but very new to the Oil and Gas sector.


----------



## philly

Good set of figures released by NDO today. GALOC has had an enormous impact. For 6 months to 30-6-09 oil production was 343,659 barrels compared to same time last year 15, 275 barrels.
Also today NDO announced that the govt had approved the development of the Tindalo oil field and this will provide NDO with additional production. Could this be the news that we have been waiting for? Hopefully the SP will respond positively.


----------



## S73417H

Certainly some good numbers being posted in those announcements. With any luck we might see some up side to oil prices in the coming days. It's possible we could see a very nice week of trading here.

Still waiting on that elusive partner to show it's head. NDO still remains a long term favorite of mine and I will continue to accumulate happily.


----------



## rhyslivs

was just browsing through NDO's half yearly report and i came across these figures:

Fair value loss on embedded derivative: (7,990)

Foreign currency losses: (14,316)

Can someone explain to me what these figures mean and why NDO lost over $22M on them? They are not insignificant losses considering NDO's total revenue was on $25.9M.

I am looking for a new entry point, the charts indicate to me that it needs to hold 13.5c and move up from here or it is going to continue its downward trend. Hopefully a boost in oil prices could be just the catalyst it needs.


----------



## swm79

have a look at the notes to the fin reports. its all explained in the notes.

in a nutshell

they have AUD parent coy loans to USD functional currency subsidiaries.... as the USD gets weaker it increases the the costs of holding that money

same with the derivaties 

they've issued subordinated debt convertible USD convertible notes


----------



## jonojpsg

SP popping it's head up after a six week layoff around 14c.  With production running well and development of next well still targetted for Q1 2010 there may be justification for a higher SP.

DYOR - I hold


----------



## nick2fish

Oil price over $80 and holding, SC54A farmout and with Tindaloo development slated to cost as little as 15mil, I am at a lost to explain the lack of excitment shown towards NDO's future prospects.


----------



## fureien

wow hitting 12c i am staining my pants with this drop. and its trading so thinly as well.

i averaged down to 13.5 c and thought that was supposed to be a bargain. gargh


----------



## nick2fish

I had a go at 11.5c but no takers so probably 12c is its resistance at the moment and has been for the last couple of days anyway. I too brought in at 13.5 .........anyway patience on this one I feel  The only problem I can see with this one is the massive share dilution they have , but future prospects appear good.


----------



## fureien

yah patience is all i have left. been waiting for a few months already though. in all honesty id rather watch this rise than see another opportunity to average down. but its holding up at 13c this week. hopefully it recovers soon, i hate seeing red in my portfolio!


----------



## nick2fish

I don't really think sp will do anything until Tindaloo, so hopefully NDO's forecast for oil production in the first quarter of 2010 comes through. 50% of lets say conservatively a 10000 bpd production is a powerful income stream even at $80.00 a barrel.They have more drill ready targets than any other explorer that I know of and most of the targets are 3D surveyed, including the giant Gindara prospect which has now been even further de-risked. Two wells last year and both hit targets and when they drill again next year another similar result will not surprise.
I am continuing to buy under 0.12 now and only time will tell if my money has been wisely spent.
Good luck fureien and remember that oil demand fundamentals have not been on our side...as yet
Looking forward to the views of others ,cheers


----------



## jonojpsg

No question that fundamentals are on the side of any oil producers with reserves and good potential!!  Given that peak oil has hit and we are on the down slope of global production for good, POO has only one way to go IMO


----------



## fureien

nick2fish said:


> I don't really think sp will do anything until Tindaloo, so hopefully NDO's forecast for oil production in the first quarter of 2010 comes through.





whats the tindaloo thing you mentioned. sounds familiar. sorry i havent researched very deeply. I plan to hold this till i make a decent return for the time ive held. Ive learnt that patience always pays off. but just like you ive got buy orders from 12 down to 10c. ready to cancel the higher ones at 12 if it tanks too hard lol


----------



## nick2fish

Tindalo is a oil discovery from last years drilling campaign, Yakal being the other and the smaller of the two. NDO currently plan to have Tindalo producing late in the first quarter 2010, pending a Final Investment Decision of which you should here about very soon. At the moment NDO's Sp price seems to be tied to general market sentiment and economic recovery, rather than the company strengths and prospects. So expect some undervaluation until the company can string together a few market positives. Try their web site:  http://www.nido.com.au/ cheers


----------



## fureien

thanks for that. nice info. holding it for longer then.

also finally broke through 13.5c but not moving lol


----------



## Solitus

Nido is testing that 15c resistance again.  See chart below.

They've been stuck in the 13-15c range since the damage to the well linkage back in July took them a month to fix.  

I've been holding at 12.7c since their last bad news when the FPO was full and they couldn't offload cargo to had to halt production - the market reacted badly, and I read "we're full of black gold and want to make more" so averaged down from 13c.

It hit 15c briefly yesterday and pre-open shows estimated 15c start to the day.. would be good if it soared finally - production was solid for Q1 and Q2 in early 09, and next year they'll hopefully have the new project up and running to mitigate production risk in the monsoon season.

Of course, I'm a newbie (see my post count), so don't take my word for anything - do your own research and if necessary seek financial advice from someone with a clue.


----------



## Solitus

Finally appears to have broken through the 15c resistance, on a third consecutive day of high volume, its nudging 17c.

They got removed from the S&P All Australian 200 this morning too - so I'd have expected a bit of selling from funds no longer required to hold them?

Anyone heard any rumours?


----------



## nick2fish

Heading in the right direction on good volume, at last. Worth checking out NDO's response to question 3 in the ASX price query. If you have to reply to that rubbish you may as well take the opportunity to give the company a bit of a ramp... or two ...or three.......


----------



## Justone

Exxon bares Sulu oil find    

by Alena Mae S. Flores   Note (NIDO and TAP are Next door)

The Energy Department yesterday said a unit ExxonMobil Corp. has encountered encouraging oil shows in its Sulu Sea drilling and plans to drill a second well in the area next month.

“We just got word from Exxon that they found hydrocarbons in their area although a lot of testing has yet to be done,” Energy Secretary Angelo Reyes told reporters.

ExxonMobil Exploration and Production Philippines B.V., the world’s biggest oil exploration company, has drilled Dabakan-1 well to a depth of 4,800 meters, where it detected the presence of hydrocarbons in Service Contract 56. The well is located about 65 kilometers from Mapun Island, a municipality of Tawi-Tawi province.

Reyes said the positive results of the ExxonMobil’s drilling “opens up potential for investors in the exploration sector to look at the Philippines.”

“We look forward to further working with ExxonMobil under SC 56. We also would like to thank them for their strong support to our energy investment program,” Reyes said. Reyes and Energy Undersecretary Ramon Oca visited the West Aquarius drill ship on Nov. 29.

Ian Fischer, managing director, ExxonMobil Exploration, said the company was prepared to invest another $100 million for the additional well.

“Logs taken at the Dabakan-1 well indicate that we encountered reservoir sands and hydrocarbons. The well will be drilled further to a total depth of approximately 5,000 meters [16,400 feet], setting the record for the deepest well drilled in the Philippines,” Fischer said.

“Hopefully, there is encouragement to drill more wells,” he said, adding that “data analysis and additional studies are being conducted to evaluate the potential of the find.”

Oca, meanwhile, cautioned that it was too early to tell if the discovery was of commercial quantity.

“While there is technically a discovery, there is so much to be done. We have to analyze the data, it will take some time. We study all the data and go toward production,” he said.

ExxonMobil as operator owns a 50- percent interest in the concession area, with Mitra Energy (Philippines) Ltd. and BHP Billiton International Exploration Pty Ltd. controlling 25 percent each.

The drilling at the Dabakan-1 well commenced on Oct. 11.

ExxonMobil officials declined to give an estimate on the potential reserves of SC 56. The Energy Department earlier said it could contain about 750 million barrels of oil, or enough to supply the domestic market for seven years.

Top


----------



## nick2fish

Ah....... Up nearly 30%, 20mill volume and I don't have a clue whats behind this sudden change of sentiment.  Anyone ??????


----------



## CAB SAV

nick2fish said:


> Ah....... Up nearly 30%, 20mill volume and I don't have a clue whats behind this sudden change of sentiment.  Anyone ??????




Read speeding ticket response on Fri. The Gindara field triggered the upside. KIK have 40% interest in Gindara, they also finshed nicely up.


----------



## nick2fish

Cheers for that, I didn't think to check out KIK. Really nice response to that speed ticket, so much so that they didn't dare issue another today.


----------



## Justone

nick2fish 

One reason is that a broker Patterson’s has recommended NDO as a buy and placed a value of 26c /share based on Tindalo and at the same time Exxon has encountered hydrocarbons in a neighboring block. You will see that KIK and NDO are closely related but as I understand it NDO have a massive deep acreage with possible similar structures to where EXXon are drilling and spending $100m. 

I am very excited and now see NIDO as a long term investment. A re-rate in it's share price is only a matter of time. If Exxon prove up 750mil BBL in one well then attention will definely turn to NIDO.


I have been holding for  4years now and expect NIDO to reach at least the last high of 60c in a year or two.

Good luck to all 

TOPSHELF


----------



## akkopower

Well ndo had a good run made about 30% in a week. Seems to have support at 17c and moving sideways. 

anyone like to discuss where they believe this stock is heading


----------



## Solitus

akkopower said:


> Well ndo had a good run made about 30% in a week. Seems to have support at 17c and moving sideways.
> 
> anyone like to discuss where they believe this stock is heading




They've broken down through the 17c resistance, so next line of resistance is 15c.  Would be nice to have more capital to put into it, but I'm already holding a chunk of NDO at an average 16.4c (bought back in recently after selling out for 19c in December).

Expecting quarterly results in just over a week's time which should prove interesting - they've been very quiet on the news front, neither positive or negative, so should mean it'll be a quarter with solid production and order fulfillment on the existing Galoc field - same quarter end of 2008 was just under 180k barrels net to Nido, so expecting similar volumes for the period Oct-Dec 09, with a better oil price to support it.


----------



## jonojpsg

I've been accumulating as the SP drops - picking up more Monday at 15.5 if I can.  This will definitely move as Tindalo startup approaches IMO.


----------



## Wysiwyg

Solitus said:


> Expecting quarterly results in just over a week's time which should prove interesting - they've been very quiet on the news front, neither positive or negative, *so should mean it'll be a quarter with solid production and order **fulfillment on the existing Galoc field - same quarter end of 2008 was just under 180k barrels net to Nido,* so expecting similar volumes for the period Oct-Dec 09, with a better oil price to support it.



Yes the production issues from Galoc have not surfaced of late and the report on their near term re-entry into Tindalo with 50% interest is very exciting as a lead up to even larger prospects like Gindara down the track. The new jack up rig in shallower water should provide less if any problems. I like it. 



Wysiwyg said:


> Nothing much at Tindalo 1.




This from a year ago will soon hopefully be proven wrong.


----------



## Solitus

From announcement last night, Nido have awarded the contracts to get Tindalo up and running.  Expected first-oil is in April from the well.



> She went on to say, “We have been working closely with Knutsen and Weatherford over the
> last couple of months to maintain project schedule and it pleases me to say that the
> awarding of these contracts keeps us on track to deliver the project in line with our
> expectations at Final Investment Decision. The critical path item on the schedule to first oil is
> the date when the Aquamarine Driller comes on contract. This depends upon the release of
> the rig from its previous contract and is expected in April 2010.”


----------



## jonojpsg

Solitus said:


> From announcement last night, Nido have awarded the contracts to get Tindalo up and running.  Expected first-oil is in April from the well.




I wouldn't be expecting first oil in April - this just says that the rig will be released from its current contract then.  Still have to get it in place, hook it up, etc etc.  I would be happy if they have it on line by end of May.

Just to throw some numbers around - if they get midpoint of projected flow rate which would be 10000bopd - 50% to Nido gives 5000.

Suggested costs I think were $250k per day or $25pb.  So at $75pb Nido will be making $50x5000 = $250k per day.

Assume some downtime for weather, say 20 days, then 345x$250k = $86m pa

Yes the field size (P50 - 5.1Mb) is only enough for 18 months production at this rate but this still gives them a nice bundle of cash to proceed with the bigger prospects

Should also provide some upside to the SP given they are valued at $150m (here's hoping anyway)


----------



## jonojpsg

Just to pop this one back up the list - SP has started to slowly move back up again as Tindalo startup approaches (Apr/May).  Got as low as 12.5c but has closed today at 14.5c and more buyers starting to line up.

Still think it could (should?) move significantly when Tindalo is flowing, as that would give NDO the cash to be able to have a crack at at least a couple of its bigger prospects, wherein lies the *potential* to drive NDO well up the ladder.

Holding a reasonable chunk of my portfolio in this one, so obviously have vested interests 

Note that Exxon are planning a 3rd well @ $100m a pop in SC56, adjacent to NDOs SC58 and reports are that the first well may hold up to 750m barrels.


----------



## jonojpsg

Probably talking to myself here but a couple of big trades this arvo have pushed the SP up a tick - maybe time to be getting in before Tindalo comes online in next couple of months.  By my calcs, a SP of around 20-25c would reflect the additional value from Tindalo.


----------



## jonojpsg

OK news out - Jackup rig due mid April and to be production testing by late April.  Again IMO this will have to move when market sees another 10000bopd flowing (assuming it flows ).  

DYOR but it looks good to me - holding lots


----------



## jonojpsg

Jumped today  Nice move up 14% to break out of trading range from last two months and sitting at 16c.  With jackup rig arriving sometime in the next week or two and well testing (production!) to be shortly after, this should have upwards pressure towards my target of 20-25c.

If well flows at 10000bpd we should see the top end of that estimate IMO


----------



## moses

Nice looking pennant forming here. With drilling under way presumably we can expect some news soon...


----------



## moses

Interesting. Nice jump in volume today with 21.6m shares exchanged.

From the website...

"As we turn into the year's second quarter, there is palpable excitement in Nido particularly with the ongoing development work at Tindalo and the exploration activities in the outboard acreage.  We just released an announcement that the Aquamarine Driller has come on hire and is sailing towards Palawan to commence operations.  The seabed coring program is fully underway in Service Contract 58 and interpretation of the 3D seismic data over the southern portion of Service Contract 63 is moving at heightened pace.  Markets, be they the capital markets or the oil markets, seem to have settled down to an even tempo.  For the Tindalo development, we bid Joanne Williams good luck as she headed to Manila to oversee operations on the ground there.  Jon Pattillo, on the other hand, continued to meet with companies interested in to partner with us in the outboard blocks.  Everyone in Nido is intensely focused on the work at hand and in delivering the desired results.  We are looking forward to a rewarding next few months."

Jocot de Dios

23 April 2010


----------



## jonojpsg

With jack-up rig in place and well to be reentered shortly, this has to be the best opportunity to make a quick dollar doesn't it?? 

Seriously though, the announcement of oil flowing at upwards of 7000 bpd with 43% of that to Nido has got to get the SP moving given that it's been rated at this level based on Galoc flow of 2000bpd for the last year.

While it may not double the SP, if they get the minimum 7000 bpd from the range stated in the reports, with 2900bpd of that to Nido, it has to give it at least 5-10c boost IMO.

Anyone interested?  Care to shoot me down?


----------



## moses

Well I hope you prove right but meanwhile my very nice looking pennant theory appears to have failed.


----------



## jonojpsg

OK, know I know why Mr Market hasn't ramped the SP up in anticipation

Just have all my fingers crossed that all that work and money Nido (and I!!) have put into this don't come to naught with an "Oh woops, the well didn't flow as we'd expected" announcement.



> Nido has anticipated initial oil production from the Tindalo well at 7,000 to 15,000 barrels of oil per day, based upon independent party assessment. The production estimate is based upon subsurface geological modelling and reservoir simulation consistent with production history matching of two nearby oil fields (Nido A&B fields located nine miles to the south) that have produced 19 million barrels to date from the same age reservoir. Recoverable oil over an approximate 18 month life may range between 5-6 million barrels for Tindalo. *There is no assurance that this well can produce as estimated and there is no certainty that it will be commercially viable to produce any portion of the resources mentioned in this release as there is no flow test data*




Waiting extremely impatiently now


----------



## pillman

Well, it's TANKING today . . . cant be certain if this is the effect of the bloodbath on the markets or the flow rates have come in and blown a duster. Either way, the volume is high

Kinda reassuring that a director jumped in and  bought a 350000 parcel in the middle of all this mess


----------



## jonojpsg

pillman said:


> Well, it's TANKING today . . . cant be certain if this is *the effect of the bloodbath on the markets *or the flow rates have come in and blown a duster. Either way, the volume is high
> 
> Kinda reassuring that a director jumped in and  bought a 350000 parcel in the middle of all this mess




I would think that this is the reason - most stocks down on a -2% day.  Definitely pushed back this arvo - I was watching closely - and settled at 13.5 which is steady from yesterday.  There MUST be news close at hand though, it's been a week since jack-up rig was in place and I wouldn't think it would take longer than that to complete and test the well?  

Here's hoping anyway - definitely think that good flow rates will give a massive boost to SP with the uncertainty that surrounds the market atm, any good news will be jumped on IMO


----------



## pillman

I was fortunate / stupid enough to grab a whole bag full at 13c when the world caved in on Friday. Monday will hopefully tell me whether or not that was a bad thing. 

Logic would suggest that buying in a crashed market with an imminent announcement that has a high likelyhood of success would be a wise move . . . however logical is not exactly how I would describe the markets these days.

You would think after the weekend (they do work weekends right?) that we would have some results . . they wont save it all up for the AGM on the 19th.

PS, for the useless stat crazy, in 94% of all cases where a company announces an agm and a director has purchased stocks, the stock rises, with an average of 16% rise between the agm ann to the agm day.  I spend way too much time with excel.


----------



## pillman

Well, I can only guess it's not bad or good news, just no news. If it was either it would be leaking from either side. At the moment the SP is flatlining with no real indication.

the volume suggests a flush of the speculators for more speculators?


----------



## pillman

*NDO gets Insider Trader pick of the week*

Here's a stock where Directors have been buying and one broker has a strong buy recommendation on it. Nido Petroleum is an oil and gas exploration company. This company has large acreage reserves, mainly in the Phillipines, and is currently installing a rig right now in the Palawan basin. If all goes well the company should see some shareprice increase due to increased revenues. Of course, sometimes things don't go according to plan so treat this as a speculative stock. 

The share price has hit 50c before and Directors buying around 15c gives us some confidence.


----------



## jonojpsg

Hey pillman,
You may be pleased to know I got an email from the AssMD (am I allowed to use that term) that said they are working hard on installing all production equipment and testing the FPSO vessel and connection prior to well completion which she said would definitely still be in May, all things going as planned.  

IMO I think this is a no brainer given the amount of money and effort Nido have gone to to get this far - seriously though, if the well doesn't flow as planned they will have egg on their face that will definitely not come off and would they risk that if they weren't 99.99% sure it was going to happen the way they said it would??

Still waiting with a tad of nervous anticipation though  IF it comes off with the planned 7-15000bopd I will have a BIG grin  Definitely one to watch for the announcement


----------



## jonojpsg

Nice close higher today, up 1.5c to 15.5c, with update on operations as per my last post.  Buyers now lining up to get a part of the action, with maybe a week to ten days before the BIG announcement re flow rates.  Given the ease with which it moved today, IMO we will see 2-3c creep over the next week then *at least *5c more IFF the flow rate fits the stated range.

Worth getting on, which I am obviously


----------



## pillman

Well predicted, and a nice close after a very conservative announcement. I would say they wouldnt go to all that effort of setting up all this hose and equipment . . for a dry well. 

The valuation will be the next challenge, how would a decent flow rate impact the SP? There has been a lot of conversations on other sites around it being no big deal in comparison to the neighboring blocks they cant drill yet and dont have the money for?


----------



## jonojpsg

pillman said:


> Well predicted, and a nice close after a very conservative announcement. I would say they wouldnt go to all that effort of setting up all this hose and equipment . . for a dry well.
> 
> The valuation will be the next challenge, how would a decent flow rate impact the SP? There has been a lot of conversations on other sites around it being no big deal in comparison to the neighboring blocks they cant drill yet and dont have the money for?




Yeah you'd be happy about picking up a bunch at 13  To my mind, the flow rate is not particularly important as long as it is in the range 7-15k bopd that they predicted.  The big thing, and this answers your second point, is that it will give Nido cashflow of around $100+ million over the next 12-18 months that they can then apply to the work on their BIG prospects.

Exxon have drilled two holes in a neighbouring deep water permit for around $100m each so assuming Nido could find partners to offset at least 50% of the cost that would give them enough to drill at least two - and there must be something worth finding there as Exxon are coughing up for a third well to be drilled late MAY.  

So as far as impact on SP goes, well it certainly adds significant value to the company IMO - the MC increases by about $10m per cent of SP so a reasonable value with success on this well should take them to around $300m MC, or around 30c.


----------



## pillman

*Nido announce 5 well program*

5 well program over 2 years funded from profits @ SC54 etc.

Shares wont be going backwards again for a while unless there is a storm


----------



## jonojpsg

*Re: Nido announce 5 well program*



pillman said:


> 5 well program over 2 years funded from profits @ SC54 etc.
> 
> Shares wont be going backwards again for a while unless there is a storm




Mmmm, just reading the AGM presentation!!  Looks like some veeerrry tasty prospects there, with the next two years holding some exciting times!!  Just can't wait for Tindalo to actually start up and I can sit back and relax and enjoy the ride


----------



## pilots

*Re: Nido announce 5 well program*



jonojpsg said:


> Mmmm, just reading the AGM presentation!!  Looks like some veeerrry tasty prospects there, with the next two years holding some exciting times!!  Just can't wait for Tindalo to actually start up and I can sit back and relax and enjoy the ride




What will be good this time is that they have done 3D seismic, this makes finding Oil/Gas a lot easer.


----------



## pillman

Im looking at this comparitively to other stocks that a few years ago where in the same boat, such as Molopo and OSH. (Both at opposite ends of the spectrum given Molopo were a penny stock and OSH a semi blue chip . . note I did say "semi" for the purists)

NDO have put forward a fairly robust plan that stands up to scrutiny, as did both OSH and MPO. They have a product that people are going to need to buy . .  it's not a bio tech that has some potential regulatory issues etc along the way . . and an organisational structure that allows them to sell it (they arent held back by internal challenges)

The issue will be "do they find oil that is commercially sustainable" . . .  and if so can they then use that profit to continue to find out that is commercially sustainable.

At one stage in 2004, OSH was trading at 67c and MPO at about 7 cents . . . now they are $7 and $1.40 respectively. And looking back you can see why, basically a continued growth thru aquiring JV's or new discoveries in commercially viable areas.

But at the same time I remember the chat rooms all were alive with discusion about the companies not making it much further and having all sorts of issues. (MPO even had numerous listings to further dilute the SP)

So . . I think this might be a matter of locking them away in the draw and coming back in a year, see what's happened, dont imagine it would be bad as if it was bad, it would be zero. They cant stand still at this rate, they can only go up or out.

My 2 cents


----------



## Buckfont

Pillman, you`ve got me a little confused saying OSH and MPO are $7.00 and $1.40 respectfully today. My last look had OSH $5.36 and MPO $1.06, and that was a cuppla mins ago. I`m looking at NDO too but will hold off for the moment.


----------



## jonojpsg

Well an announcement finally  Still not what I was hoping for  I'm a bit concerned that the flow is not what they were hoping for hence the "extensive drill stem testing"...any experience oilers out there who care to comment??

Hoping that instead it is the company being cautious/careful/measured with their announcements and that we'll see the flow rates we were after within the next week


----------



## pilots

jonojpsg said:


> Well an announcement finally  Still not what I was hoping for  I'm a bit concerned that the flow is not what they were hoping for hence the "extensive drill stem testing"...any experience oilers out there who care to comment??
> 
> Hoping that instead it is the company being cautious/careful/measured with their announcements and that we'll see the flow rates we were after within the next week



They could be testing each zone, they will want the best one on line, they won't run them all together.


----------



## RP_Automotive

jonospsg: Drill stem testing, or DST's enable people to isolate any given part of a well from top to bottom, at virtually any interval and flow it to surface. 

NDO would be looking at their wireline logs and seeing where the oil 'shows' are throughout the well. They will then tell the DST company to test each zone. E.G. 150m - 200m, then 213m - 240m, then 500m - 513m. This way NDO can see what is coming from where and select the best zones as their 'production' zones and block out the crappy/water zones.


The main purpose of a DST is to determine 'Permability', or in laymans terms, the wells ability to flow in a particular section. You can also determine flow rates, size of formations etc etc depending on the analysis you do. DST's are essentially a production test, but in only one part of the well.


----------



## jonojpsg

RP_Automotive said:


> jonospsg: Drill stem testing, or DST's enable people to isolate any given part of a well from top to bottom, at virtually any interval and flow it to surface.
> 
> NDO would be looking at their wireline logs and seeing where the oil 'shows' are throughout the well. They will then tell the DST company to test each zone. E.G. 150m - 200m, then 213m - 240m, then 500m - 513m. This way NDO can see what is coming from where and select the best zones as their 'production' zones and block out the crappy/water zones.
> 
> 
> The main purpose of a DST is to determine 'Permability', or in laymans terms, the wells ability to flow in a particular section. You can also determine flow rates, size of formations etc etc depending on the analysis you do. DST's are essentially a production test, but in only one part of the well.




Thanks heaps RP   Given that they were really only looking at one interval, albeit 119m, any idea about how long testing should take?


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## RP_Automotive

If it was only 1x test your looking at ~24hrs max. Having said that there are alot of other things that may need to happen before the DST happens. I wouldn't expect anything untill Thursday/Friday.


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## jonojpsg

Looking good folks, steady rise since the oil started flowing, Morgan Stanley now on board with 11% after buying 74m day before yesterday at 16.5c.  IF we get flow rates as expected...like I've been banging on about for the last few weeks...we'll get a nice run up to mid 20s IMO.


----------



## Dink

Great volume already today - 10+ mil. Tried to get some at 0.185 but missed out. Couldn't resist getting some at 0.195. Now we just the wait until the DST results come out...


----------



## Dink

Trading halt... love it when you time it well... obviously assuming the news will be good... better than expected well production? Could they have found an oil major to assist in exploration of their acreages?


----------



## jonojpsg

Dink said:


> Trading halt... love it when you time it well... obviously assuming the news will be good... better than expected well production? Could they have found an oil major to assist in exploration of their acreages?




Yep, the waiting is almost over...when I saw trading halt I wasn't too confident, thinking that flow rates must be lower than expected...but we'll wait and see I guess 

WHatever the news, I am going to try and be right on top of it, as I'll need to bail if lower than expected, and will want to pyramid up if better than expected

tick, tick, tick...


----------



## philly

QUOTE=Dink;559541]Trading halt... love it when you time it well... obviously assuming the news will be good... better than expected well production? Could they have found an oil major to assist in exploration of their acreages?[/QUOTE]



jonojpsg said:


> Yep, the waiting is almost over...when I saw trading halt I wasn't too confident, thinking that flow rates must be lower than expected...but we'll wait and see I guess
> 
> WHatever the news, I am going to try and be right on top of it, as I'll need to bail if lower than expected, and will want to pyramid up if better than expected
> 
> tick, tick, tick...




I am confident that the news will be positive
The trading halt was announced at 11.47am. At that stage the SP was up one cent on volumes of more than 15.9 million shares. That is a pretty busy 2 hours of trading. Seems to me whispers may have got out.
An hour and a half later at 1.17pm NDO announced that the trading halt was sought because it would be making an announcement regarding the drill stem testing results from the Tindalo-1 well on Monday.
I am a happy holder  Good luck to all holders


----------



## Miner

I think the announcement will be a positive. As KIK also having a trading halt at the same time and both of them saw some little oil flow (reported probably lower than actual so that the people are known can pile up enough stocks as typical in industry). 

As a small holder only bought before the announcement (thanks to Keith Neilson of Inside Traders for a change) I hope NDO should not announce it on Monday. Market will not appreciate after DOW jones dived by more than 3% on Friday.

DYOR


----------



## jonojpsg

Miner said:


> I think the announcement will be a positive. As KIK also having a trading halt at the same time and both of them saw some little oil flow (reported probably lower than actual so that the people are known can pile up enough stocks as typical in industry).
> 
> As a small holder only bought before the announcement (thanks to Keith Neilson of Inside Traders for a change) I hope NDO should not announce it on Monday. Market will not appreciate after DOW jones dived by more than 3% on Friday.
> 
> DYOR




Au contraire Miner, I reckon the market will love it Monday - it'll be the only thing going and day traders will JUMP on it if it's good!  IMO if flow rates are good, it will be a prime time to sell at about 11.30am after the traders have pushed it to about 29c  then it'll drop back to around 26c by the end of the day...there you go, there's your crystal ball for tomorrow


----------



## Dink

Flows over 18500 bopd surpassing expectations!!! Can hardly wipe the smile off my face..............................


----------



## jonojpsg

Dink said:


> Flows over 18500 bopd surpassing expectations!!! Can hardly wipe the smile off my face..............................




Yeeeeeeeeehaaaaaaaaaaaaaaaaaaarrrrrrrrrrggggghhhhhhh  Oh yeah, oh yeah, oh yeah, oh yeah...gotta love that  Loading up for a wild ride this morning but this makes the waiting all the more worth it


----------



## Dink

I can't help but keep watching the trades happen... vol over 9 mil and it has only been 5 mins and sellers drying up quickly... can hardly contain my excitement...


----------



## pilots

Dink said:


> I can't help but keep watching the trades happen... vol over 9 mil and it has only been 5 mins and sellers drying up quickly... can hardly contain my excitement...




This is this is only the first well, wait until they drill 3/4 more. The 3D is telling them just the spot to get the max oil.


----------



## Dink

The most telling point in the announcement was that the "Maximum oil rate was achieved on natural flow and was hardware limited". Who knows what it could have been! We will have to wait until more wells are drilled to find out.


----------



## jonojpsg

I'm surprised that SP has stabilised where it has - maybe day traders jumping in and out for 0.5c tick gains?  IMO it should run at least 2-3c higher than this over the next week as news gets out, especially with flow rate being at the top end of the range.  

Will the EWT results be another kicker, giving some idea of recoverable reserves?


----------



## Dink

jonojpsg said:


> I'm surprised that SP has stabilised where it has - maybe day traders jumping in and out for 0.5c tick gains?  IMO it should run at least 2-3c higher than this over the next week as news gets out, especially with flow rate being at the top end of the range.
> 
> Will the EWT results be another kicker, giving some idea of recoverable reserves?




I am astonished that this hasn't run further. I was thinking mid to high 20s. Flow rate was not at the top end of the range it was above the expected range and this was "achieved by the unassisted, natural energy of the reservoir and did not require use of the installed ESP to provide artificial lift" and this was "hardware limited." Who knows what the flows could have been? The announcement was extremely optimistic about the future too. We can't blame the overall market as it is up. We can only hope that most are taking profit today and that it will hold value over the next few weeks. Overall this is a very good stock with plenty of potential. Lets not forget that this well "transforms [NDO] into a fully fledged oil production operator."

It will be interesting to see if the top 20 shareholders will change as a result of todays trading. Plenty of volume with what appeared to be a couple of very big buys.


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## jonojpsg

Crazy

Cannot understand why people would be jumping off at this stage?  With over 6000bopd net to Nido, that is 3x their current production from Galoc and gives them close to 8000bopd production, with costs running at about $25/b.

So they are generating net cash of $400k per day at $75/b oil price, or $140m+ a year.  Even if Tindalo only lasts 18 months at this flow rate, Nido will have enough to pay off debt, drill Gindara, bring other DISCOVERIES online, etc etc.

IMO there is no way they should be valued under $300m or 30c per share, and potentially much higher now that Tindalo has given them greater confidence in their other wells and targets.

We will wait and see what the market does hey


----------



## Dink

Chairman of the Board Bill Bloking pick up another 400,000 shares... 

Second highest traded stock by volume today. If it wasn't on people's radars previously it is now...


----------



## Dink

If yesterday was astonishing today is baffling. Now down below the share price prior to releasing the announcement. Are we missing something here? Was the announcement not good? Were people expecting higher flows?


----------



## Absolutely

Dink said:


> If yesterday was astonishing today is baffling. Now down below the share price prior to releasing the announcement. Are we missing something here? Was the announcement not good? Were people expecting higher flows?




Traders, manipulators, opportunists and others playing it. The flow rate is at a maximum so no issue with that. The company is worth a lot more now then the SP says and in time this will rerate.

There are people out there trying to convince you to sell. I wouldn't do it if I were you.


----------



## jonojpsg

Dink said:


> If yesterday was astonishing today is baffling. Now down below the share price prior to releasing the announcement. Are we missing something here? Was the announcement not good? Were people expecting higher flows?




Can't believe it myself - should have bloody well sold out of everything yesterday when it hit the wall at 23!! 




Absolutely said:


> Traders, manipulators, opportunists and others playing it. The flow rate is at a maximum so no issue with that. The company is worth a lot more now then the SP says and in time this will rerate.
> 
> There are people out there trying to convince you to sell. I wouldn't do it if I were you.




And here I was thinking day traders were going to push the SP up above what it should be...not  5c below AND THEN start bailing

Seriously, how can there not be more people out there willing to get in at these levels for the medium term at least?  Oh well, just have to wait for the flow rates to percolate out a bit more


----------



## Dink

jonojpsg said:


> Can't believe it myself - should have bloody well sold out of everything yesterday when it hit the wall at 23!!
> 
> 
> 
> 
> And here I was thinking day traders were going to push the SP up above what it should be...not  5c below AND THEN start bailing
> 
> Seriously, how can there not be more people out there willing to get in at these levels for the medium term at least?  Oh well, just have to wait for the flow rates to percolate out a bit more




Most traded stock by volume today. At least it is on the people's radars. I am buying with every spare cent at the moment. Money talks and once flow and revenue announcements are made this one will start to move. Still thought that we might have seen a change in the top 20 shareholders but maybe it has just been day traders getting in and out. Looks like I am going to be hanging around here for a while yet.


----------



## jonojpsg

I know oilers are probably more rated on their reserves than their income, which makes sense given a well like Tindalo which has a great flow rate but might only last for 18-24 months.

Hence it's more about how likely it is that Nido can replace/increase their reserves rather than the fact that they are now pumping 8000bopd.  Still, as my earlier calculations show, at todays close and assuming 15000bopd can be maintained, Nido's PE ratio is going to be about 1.5

Even if Tindalo only has 5mill barrels recoverable, that takes Nido's reserves up to about 5 million barrels including Galoc, which values them at $32/barrel.  Actually looking at it that way, that probably only makes them $20/barrel undervalued - another 10c a share?

So we really need a biggie like Gindara to make some significant impact!


----------



## akkopower

Did the conversion of the bonds hurt todays prices. If Lynch dumped them all it would look pretty bearish. 

However judging from yesterdays action im not too surprised abt today. More surprised abt yesterdays lack of action.

How much of a problem is water in the well?

ndo was expecting 7-15K bopd and they have max flow rates of 18k ish and mean flow of abt 15k ish  during the first few days of flow. How much are the flow rates expected to drop off as the well ages. Were the initial flow rates expected to be substantially larger than found? William Bloking seemed happy with it, Why are there no more ndo chairman sucking up shares?

bizzare stock this one my calcs said to sell at 28c yesterday, nowhere near. hmmmm


----------



## Dink

Ongoing strange activity with this one. Last 15 mins of trading today ~10 million traded... overall 9th most traded stock by volume on the ASX today.... no news... love to know who is buying and who is selling...


----------



## toocool

Nido is really struggling to get through .20c resistance even with a lot more volume.

Any thoughts on this stock after a few more sessions after last weeks anouncement ?


----------



## jonojpsg

toocool said:


> Nido is really struggling to get through .20c resistance even with a lot more volume.
> 
> Any thoughts on this stock after a few more sessions after last weeks anouncement ?




Yep, annoying to see it having trouble with 20c 

I would say it will take until the EWT is complete and they have a definite and sustainable flow rate to give us.  Assuming all goes well, once they are stabilised at 15000bopd we should definitely see +20c


----------



## jonojpsg

Latest on the EWT is that they are running it for 100 days - currently producing 6000 barrels of *fluid* per day...that for me is the worrying thing, there was no mention of the water cut and the tests show it is formation water.

Any experienced oilers out there who can shed light for us on what the issues are surrounding water in the formation, eg can it stuff things up completely  or is it just a matter of dealing with the water as it's produced

Regardless it looks like the market doesn't like it


----------



## jonojpsg

Chance to jump in again around the same price they were before Tindalo flowed!  Obviously dependent on positive results from sidetrack but if it comes off it'll be a quick jump back above 20c again - buy side currently double sell side so they're there waiting

Obviously am holding so self-interest talking here, but worth a look people


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## JiggyJigs

I'm anticipating positive results and flowing oil in around a weeks time.  If this sidetrack is successful and we see strong flows which I believe we will (circa 15k bopd+) then this stock will fly.

It's not all about the profit this will produce...it's more to do with what the additional cashflow enables NDO to do with their much much larger targets.  This gives NDO a strong hand when dealing with major farmin's for the future...and if they successfully drill and produce from other nearby shallow targets...watch the cash roll in.

Exciting times.

DYOR.


----------



## pixel

JiggyJigs said:


> I'm anticipating positive results and flowing oil in around a weeks time.  If this sidetrack is successful and we see strong flows which I believe we will (circa 15k bopd+) then this stock will fly.
> 
> It's not all about the profit this will produce...it's more to do with what the additional cashflow enables NDO to do with their much much larger targets.  This gives NDO a strong hand when dealing with major farmin's for the future...and if they successfully drill and produce from other nearby shallow targets...watch the cash roll in.
> 
> Exciting times.
> 
> DYOR.




Same here - except that I'm holding KIK. They may be the junior partner in Tindalo, but the expected cashflow will enable them to develop their other prospects.


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## JiggyJigs

Nido are definately worth watching closely IMO.  News is due anytime now, just have the fingers crossed they have sorted the issues at Tindalo-1.

Any success here should see us in the 20's short term, and 30c+ after some immediate profit taking IMO.

Risks still remain that the workover hasn't been successful.


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## jonojpsg

Indeed jiggy, I am waiting eagerly for the sidetrack to be completed and flow to surface with little/no water!!!  If they have problems with water again, I am bailing.

On another positive though, the results from the seabed coring program in SC58 deep water looked pretty good - I reckon they should be able to find a big partner soon, although if Tindalo comes off OK then they can do a lot themselves


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## rez_erection

I bailed out this morning on the buying @ .175, sold out to a little loss but well worth it in my eye's. With the latest update on the sidetrack being buried in another announcement, lack of detail or why it was delayed/progressing slowly, coupled that with all the delay's getting the issued resolved had me worried.


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## JiggyJigs

Todays announcement is positive IMO.  5k bopd being choked after only two of four planned acid stimulation.  1% or less watercut is exactly what we needed aswell.  They are taking their time this time around and it appears to be working.  They have a much larger access to the resevoir with the sidetrack which means as they increase stimulation (they can actually do 8 I believe, but only plan for 4), the flows will increase until they find their optimium flows for sustainable production.

I'm quite happy and am patiently awaiting the next flow results.  Well done NDO management this time.


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## jonojpsg

JiggyJigs said:


> Todays announcement is positive IMO.  5k bopd being choked after only two of four planned acid stimulation.  1% or less watercut is exactly what we needed aswell.  They are taking their time this time around and it appears to be working.  They have a much larger access to the resevoir with the sidetrack which means as they increase stimulation (they can actually do 8 I believe, but only plan for 4), the flows will increase until they find their optimium flows for sustainable production.
> 
> I'm quite happy and am patiently awaiting the next flow results.  Well done NDO management this time.




My thoughts too jiggy.  The 1% water cut was the key factor, although it would be nice to see around 10k bopd rate at least given their running costs are $250k per day.  This would give them a nice margin of $50/b or around $200k per day for NDO (40% share).  I definitely want to see that water cut stay stable though


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## JiggyJigs

Agree re: Flow rates, but they've only done half the stimulation/frac so I'm not surprised its lower.  The next two lots are still critical to ensure no watercut, but at least we know the fix has worked so far.  I'm still expecting flow rates above 10k bopd.


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## philly

Mixwed bag of news coming out of NDO this morning - still encountering water problems at Tindalo, more delays at Galoc and most encouraging Shell farms in to the Gindara - 1 exploration well in the prospective Palawan Basin.

IMHO to attract Shell as a farm in partner is a major coup for NDO and demonstrates the high regard for NDO and its acreage in the Phillipines. The jigsaw is coming together nicely and the SP should slowly start trecking upwards.
A happy holder


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## Wysiwyg

philly said:


> most encouraging Shell farms in to the Gindara - 1 exploration well in the prospective Palawan Basin.




Early 2008 when the large prospect Gindara was targeted to be drilled. First half 2011 drilling means late first half to third quarter 2011. NDO has overcome adversity along their journey with partial success and in a years time we should see if the time & money spent has been worth it.


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## jonojpsg

Was a happy holder too until Tindalo showed water AGAIN!  IMO if they can't fix it they may be in trouble, as costs were going to be $250k per day without all the extra costs of trying to fix it.

Atm they are producing net 2000bopd (25% of 8000) @$80/b is only $160k/d so they are losing $90k per day at least.  Might not be much but if they can't fix it they will have to bail, leaving them in a hole that they may not be able to get out of given contracts signed, etc.  Galoc production would have to tide them over until Gindara was drilled making it essential to Nido's future.


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## philly

philly said:


> Mixwed bag of news coming out of NDO this morning - still encountering water problems at Tindalo, more delays at Galoc and most encouraging Shell farms in to the Gindara - 1 exploration well in the prospective Palawan Basin.
> 
> IMHO to attract Shell as a farm in partner is a major coup for NDO and demonstrates the high regard for NDO and its acreage in the Phillipines. The jigsaw is coming together nicely and the SP should slowly start trecking upwards.
> A happy holder




NDO has requested a trading halt pending an announcement regarding a capital raising. I wonder whether ordinary shareholders will get a look in either through a SPP or a rights entitlement or will the big institutions scoop the cream? Also how will NDO use the money? Any thoughts out there?


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## philly

philly said:


> NDO has requested a trading halt pending an announcement regarding a capital raising. I wonder whether ordinary shareholders will get a look in either through a SPP or a rights entitlement or will the big institutions scoop the cream? Also how will NDO use the money? Any thoughts out there?




Well my questions were answered by NDO this morning - 

Nido Petroleum Limited (ASX: NDO) (“Nido”) announces that it will undertake an institutional placement of ordinary shares (“Placement”).
Proceeds from the Placement are intended to be used to secure Nido’s future exploration program, including the drilling of the Gindara and Aboabo prospects, for general working capital and partial debt reduction.

Merrill Lynch International (Australia) Limited and Patersons Securities Limited are acting as Joint Lead Managers for the Placement.

Nido also plans to offer existing shareholders the opportunity to participate in a Share Purchase Plan, details of which will be announced shortly.

Nido shares are expected to remain in trading halt pending completion of the Placement.

I am a holder.


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## jonojpsg

philly said:


> Well my questions were answered by NDO this morning -
> 
> Nido Petroleum Limited (ASX: NDO) (“Nido”) announces that it will undertake an institutional placement of ordinary shares (“Placement”).
> Proceeds from the Placement are intended to be used to secure Nido’s future exploration program, including the drilling of the Gindara and Aboabo prospects, for general working capital and partial debt reduction.
> 
> Merrill Lynch International (Australia) Limited and Patersons Securities Limited are acting as Joint Lead Managers for the Placement.
> 
> Nido also plans to offer existing shareholders the opportunity to participate in a Share Purchase Plan, details of which will be announced shortly.
> 
> Nido shares are expected to remain in trading halt pending completion of the Placement.
> 
> I am a holder.




Yep, as my last post suggested, they need cash and they need it fast!  With Galoc down as well, they are currently looking at around -$200k per day or another $2-3m before Galoc is back on line at least.

Just looking at Galoc as well, income from there is NOT enough I don't think to cover Tindalo costs at current production rates.

Galoc has produced approx 1800bopd to Nido this year @ $75/b = $135k per day total less costs (say $30/b) so only NET $90k per day.  

As per last post, Tindalo's net cost atm are $90k per day, so only just breaking even without any down time or extra costs.  

DEFINITELY need to fix Tindalo or could be grim

Note:  Yes they have cash reserves, but not sure how these have been drawn on over last few months, and they also have debt to cover too.  Will be watching their quarterly with some interest!


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## philly

On 28-10-10 after completing part 1 of the CR NDO announced to the ASX that it also plans to offer existing shareholders the opportunity to participate in a Share Purchase Plan, details of which will be announced shortly. Record date for the Share Purchase Plan will be 26 October 2010.

A week has passed and no announcements have been made. Is this normal? Is there any reason to worry? Usually SPP can take  several weeks to to be completed. Need to move along before Christmas otherwise my cash will be spent on Christmas presents  Any thoughts why the delay


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## Wysiwyg

Gindara 1 does look like a fine BESBS trade next year to me. Maybe BESBS Player (the poster) has an opinion on this? The estimated BOIP, cost and effort that has gone into this target is all very interesting and a long time coming around. Can someone alert me next year when the share price starts to reflect the target potential please.


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## Wysiwyg

jonojpsg said:


> DEFINITELY need to fix Tindalo or could be grim



 Grim indeed. Death to the Tindalo venture is confirmed. Don't know when the next probe is scheduled.


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## jonojpsg

Wysiwyg said:


> Grim indeed. Death to the Tindalo venture is confirmed. Don't know when the next probe is scheduled.




Hmm, saw that Wys... glad I jumped out before it got this bad  Assuming they now have enough cash reserves and Galoc continues producing as it is they will get through to drilling Gindara - BUT if that's a duster they're goners I reckon.  Also could be a company maker though, you never know.

Definitely worth a look as a BESBS play though, especially with SP depressed as it is.


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## JAMESLEE2042

Why I choose NDO? 

Two fundamental reasons –
1.	 Huge oil assets – Billions of oil potential.
2.	Shell’s successful experience in this location, and world-class development experience and access to cutting edge technology

NDO's assets lie in the North West Palawan Basin, east of Palawan Island and across the highly prospective fault line between the Sabah and Palawan geological provinces. This part of the South China Sea is better known for the hotly-contested Spratly Islands, which are due west of NDO's acreage. While a lack of exploratory drilling means there are no proven reserves on the Spratly Islands, a 1993/1994 US Geological Survey estimate put the reserves at a potential 28 billion barrels. That's multiples higher than Australia's 1.5 billion barrels of proven reserves.

NDO has significant interest in several exploration assets, namely Service Contracts (SC) 54, 58 and 63, all to the west of Palawan Island, with a net acreage holding of 14,641km². 1P and 2P reserves certified by Gaffney, Cline and Associates (GCA) as 6.8 Mmbbl and 14.7 Mmbbl gross, respectively as at 31 December 2009; NDO have applied the latest seismic and interpretative technology to identify a total of 112 targets with potential unrisked oil in place of some 11.4 billion barrels;

Gindarra offers the largest upside, is the most advanced and de-risked and will be company-making for Nido. Gindara Prospect (SC‐54B) significantly upgraded: unrisked mean oil‐in‐place increased to 1,000 MMBOE in 3 targets - the Nido limestone, Miocene clastics and deeper Mesozoic plays.

Shell is amongst the largest and most experienced oil and gas companies in the world. It has had over 96 years of operations in the Philippines and a deep understanding of its oil and gas sector. The Malampaya Project operated by Shell Philippines Exploration B.V. (SPEX) - SPEX drilled five wells to determine the amount of gas available in Malampaya. The findings confirmed the presence of a formidable power source 80 kilometers northwest of Palawan island–about 2.7 trillion cubic feet of natural gas reserves and 85 million barrels of condensate, located some 3,000 meters below sea level.

Gindara lies approximately 50km immediately south of the Shell operated Malampaya gas field in SC38, the largest discovery made in the Philippines to date and currently on production. 

High Exploration Drilling Strike Rates within NW Palawan Basin - 70 exploration wells drilled with 76% yielding oil or gas shows also give Gindara a good sign.

Gindara is scheduled to be drilled in May. With 1 billion barrel oil prospect to be drilled in near term, and Shell’s successful experience in this location, and world-class development experience and access to cutting edge technology, this should be a VERY interesting in the coming couple of months.

The current share price $0.105 is grossly undervalued.

If successful in finding oil /gas, NDO share price can go over 50 cents.  

Good luck to all NDO holders!


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## jonojpsg

Hey BESBS, you planning on jumping in on this before Gindara?  Definitely been some upwards movement in the past couple of weeks, discounting Japan.  Now that rig's secured and May/June is firmed up as spud date, should be some interest given that Gindara is the big one for Nido.

Certainly keeping an eye on it - although that said, they DEFINITELY need Gindara to have something IMO - without it, I believe the cash burn from Tindala failure and Gindara combined might put them on the chopping block?


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## Wysiwyg

*High risk/reward* is not everyone's cup of tea but the long awaited spud of large mid water prospect 'Gindara' might see some price action to the upside finally for NDO. The company has obviously spent a great deal of time and money organising this well. Personally in for sum of 5k at .11 & .115 with a strong push to .12 today. Anything can happen, up or down, between now and mid May with 5 wells in total planned for this year.


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## jonojpsg

Wysiwyg said:


> *High risk/reward* is not everyone's cup of tea but the long awaited spud of large mid water prospect 'Gindara' might see some price action to the upside finally for NDO. The company has obviously spent a great deal of time and money organising this well. Personally in for sum of 5k at .11 & .115 with a strong push to .12 today. Anything can happen, up or down, between now and mid May with 5 wells in total planned for this year.




Hey Wys,
Am kicking myself that I didn't jump in at 10.5-11 when I last posted  Really was a no brainer that interest would pick up as Gindara approached and with obvious news feed coming up to well spud - ah well, might still get in if I can between 12 and 13


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## Wysiwyg

jonojpsg said:


> Hey Wys,
> Am kicking myself that I didn't jump in at 10.5-11 when I last posted  Really was a no brainer that interest would pick up as Gindara approached and with obvious news feed coming up to well spud - ah well, might still get in if I can between 12 and 13



How did you go Jonojpsg? Price has come off as usual after that rise with support at 13.5 - 13c to be tested. Was tempted to take short term gain but see more upside with a (so far) good entry price av. of 11.4c.


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## jonojpsg

Nah, I smashed myself trying to second guess the AUD - major brain fade

So now I'm left with very little capital in the game and watching Nido push on up  Was strong up to around 15-16 and I think it might stick around these levels until something definitive comes of Gindara (maybe will run a bit higher as people try and jump in with little supply?)

Nice average price (as you say, so far)


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## Wysiwyg

jonojpsg said:


> Nah, I smashed myself trying to second guess the AUD - major brain fade
> 
> So now I'm left with very little capital in the game and watching Nido push on up  Was strong up to around 15-16 and I think it might stick around these levels until something definitive comes of Gindara (maybe will run a bit higher as people try and jump in with little supply?)
> 
> Nice average price (as you say, so far)



Yeah I was trying to get the consummate peak of the AUD/USD too but the so n so's kept pushing higher. Always pushing higher than anticipated. Ready for another go this week above 10750.

With NDO, sentiment will be unpredictable but regardless I am looking for an up trend with the 5 well program and meanwhile Galoc is producing oil over $100/bbl. If the majority are out, so am I.


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## Wysiwyg

> Was strong up to around 15-16 and I think it might stick around these levels until something definitive comes of Gindara (maybe will run a bit higher as people try and jump in with little supply?




Gee the foundations are looking shaky after the 17c intraday high. Demand started drying up last week even though a few large individual trades (several million) were supportive. Nothing much on screen at 12.5c or 13c so common ground maybe.

This month is the drilling of Gindara and I still have not my crystal ball (s).


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## Wysiwyg

Not the best of general market conditions to be trading a small cap. though this oiler has attracted enough interest to move price up again in anticipation of Gindara oil. Spudded today with a few share take ups as well.

Holding one account parcel at average 11.4c and another account parcel at 13.5c.


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## pixel

Wysiwyg said:


> Not the best of general market conditions to be trading a small cap. though this oiler has attracted enough interest to move price up again in anticipation of Gindara oil. Spudded today with a few share take ups as well.
> 
> Holding one account parcel at average 11.4c and another account parcel at 13.5c.



 KIK is their partner in crime; I reckon that's got even better leverage.


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## warennie

Gindara-1 Update
'Coron Clastics' reservoir was encountered between 2907m and 3267.5m, a gross thickness of 360m. Interpreted to be water-wet. Minor mudlog gas readings.

20% discount on this news. I assume this is a underground water cave which they have encountered on previous drills (id have to do some research on that).

Pretty heavy fall for something which i'd assume investors had factored in as likely being there. Casing and more drilling to follow.


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## Wysiwyg

Into the primary target and results out tomorrow I think for myself. Not the death of Nido with more wells to drill and production from Galoc but KIK might get a kick with two failures in a row.


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## warennie

Most likely water bearing, possibility that the LWD equipment was interpreting drilling mud that may have got through. Running a comprehensive logging program to determine.

NDO down 33%
KIK down 66%


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## Wysiwyg

A string-a-long statement in the announcement suggesting the well fluid could be drilling fluid and the logging equipment failed (again). I picked up a hint of satisfaction from the author in that announcement. Doubtful satisfaction from the investors they tap for capital.


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## warennie

You read satisfaction in the release? I might have to re-read and see if i can see some hope between the lines. Doubt it. I'd give it 1% chance they've hit oil. Still holding KIK, i minimised my exposure prior to the results, and a 66% drop means i dont even have enough to sell! (<$500). Made some money trading KIK's ups and downs, but lost about double that with the poor results.


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## Wysiwyg

Several years in the planning and several million dollars chasing the precious liquid, all to no avail. Hard to believe they waste so much of their lives chasing the stuff on a low hit percentage.


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## Gringotts Bank

volume and chart look ok.  Bought at 48.


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## Chasero

Gringotts Bank said:


> volume and chart look ok.  Bought at 48.




Bought in at 0.049

Chart looks good today.. 

With price of oil rising.. I need some exposure to some oil spec companies.

Plus new CEO no?

*edit* wow... looking to close really strong today.

Anyone want to expand on what's happening in May?

Nido has an impressive asset base with a mix of currently producing assets and attractive exploration opportunities. A high-impact five well drilling program, announced at the May 2010 AGM, is set to commence in May 2011 with the drilling of the Gindara-1 well in Service Contract 54B. A second well will be drilled in Service Contract 63 late 2011-early 2012. The Company has a 22.28% working interest in the Galoc field (Service Contract 14 C-1) which currently produces about 7,000 bbls of oil per day, gross.

So drilling results due out soon? 

<- prefers to have SOME fundamental analysis of a company and not rely on just T/A


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## Chasero

Can anyone explain why it shows millions of shares going through at 0.051 @ 4:10pm yesterday?

This means people can buy after market??

It opened pretty strong today for NDO... still possible breakout.

Holding tight.


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## skyQuake

Chasero said:


> Can anyone explain why it shows millions of shares going through at 0.051 @ 4:10pm yesterday?




Do you mean at the closing match? @ 4:10pm?

I don't see any big crossings going through, just about 1.9mil shares in the closing auction.


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## Chasero

skyQuake said:


> Do you mean at the closing match? @ 4:10pm?
> 
> I don't see any big crossings going through, just about 1.9mil shares in the closing auction.




Oh I can only see the last 10 trades go through... (so assumed it was a few mill)

And E-trade has around a 10 minute lag as well.

How can you tell the volume?


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## Chasero

If it closes above 0.054 today might be bullish... lots of resistance at 0.54

NDO has been on my breakout list for a while now

It was also featured on Your Money Your call last night, and they were discussing technical analysis!!


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## Chasero

Closed @ 0.056 today.

Any chartists want to comment?

(btw, where do people get their charts from?) ASX website?


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## Chasero

Finally looking to break out today.

Volume is finally there.

27m shares traded @ 2:30pm as opposed to avg around 15-20m only.

0.55 resistance broken.


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## Chasero

Wow, stop hit today.

Placed a stop 2 ticks below yesterdays closing price to protect profits. i.e. 0.059.

Bummer... profits taken.

Looking for re-entry on gaps.


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## mr. jeff

Chasero said:


> Wow, stop hit today.
> 
> Placed a stop 2 ticks below yesterdays closing price to protect profits. i.e. 0.059.
> 
> Bummer... profits taken.
> 
> Looking for re-entry on gaps.




So quiet here!

NDO has been moving favourably and I have missed it so far!





Looking for a possible retreat and a look at 5c level - otherwise it needs to stay above that 6c level and form some support there and it is then heading to 8c.
Well identified though.

Try here for charts.


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## StumpyPhantom

Putting charts to one side (something I don't often do), are we waiting for NDO to trip over a large deposit of oil?  

I know last year's drilling was a big flop but surely it's the discovery of black gold that's going to be a chartist's nightmare and send the stock price shooting upwards?

Does anyone have a view as to how lucky they're going to get this year?


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## tinhat

StumpyPhantom said:


> Putting charts to one side (something I don't often do), are we waiting for NDO to trip over a large deposit of oil?
> 
> I know last year's drilling was a big flop but surely it's the discovery of black gold that's going to be a chartist's nightmare and send the stock price shooting upwards?
> 
> Does anyone have a view as to how lucky they're going to get this year?




I don't own or really follow NDO, but they had upgrades to their estimated reserves recently which probably account for the price appreciation. I don't know anything about their drilling as I don't follow.

http://www.proactiveinvestors.com.a...d-prepares-for-phase-2-development-25898.html


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## StumpyPhantom

I'm trawling here for oil (and gold) contrarian plays for another thread.  

Post #296 in late March saw it rising but the latest price has it all the way back down at 4c (I haven't quite worked out myself how to add charts in!!).

Seems like explorers who earn enough cash to keep current operations going and fund a bit more digging are obvious candidates for contrarian plays given that they don't have to tap the market and there's upside with the prospect of a discovery.

I know NDO's exploration is being co-funded by Shell so there's a sharing of risk there.  Does anybody have any direct knowledge/research suggesting they're getting closer such that their upside is coming soon?


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## J.B.Nimble

StumpyPhantom said:


> I know NDO's exploration is being co-funded by Shell so there's a sharing of risk there.  Does anybody have any direct knowledge/research suggesting they're getting closer such that their upside is coming soon?




Shell have bailed out after just one well - would have been a monster had it come off - but now Total seem to be getting cosy with them. New management in place seems to be having effect. Decisions soon on Galoc phase2 should be positive for cash flow and sentiment but a lot of work to be done to regain the enthusiasm of even a couple of years back. Plenty of good acreage...


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## System

On June 26th, 2017, Nido Petroleum Limited (NDO) was removed from the ASX's official list at the request of the Company, pursuant to Listing Rule 17.14, following the compulsory acquisition by BCP Energy Pte. Ltd of all the issued share capital of the Company.


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