NDO - Nido Petroleum

[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.

 

[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.

 

[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%

 

[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.

 

[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.

 

[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.

 

[Gringotts Bank]

volume and chart look ok. Bought at 48.

 

[Chasero]

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

 

[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.

 

[skyQuake]

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.

 

[Chasero]

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?

 

[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!!

 

[Chasero]

Closed @ 0.056 today.

Any chartists want to comment?

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

 

[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.

 

[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.

 

[mr. jeff]

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.

 

[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?

 

[tinhat]

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

 

[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?

 

[J.B.Nimble]

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...