NDO - Nido Petroleum

[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]

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]

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]

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]

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