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NDO - Nido Petroleum

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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
 
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
Click to expand...

Timely? How so?

Good news with the riser repairs underway now! Let's hope production will follow soon!
 
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.
 
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
 
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....
 
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.
 
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?
 
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?
 
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
 
nick2fish said:
I really have no idea in what the constant downward pressure is all about.
Click to expand...

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