seller is back....., page-7

I thought this might happen which is why I said be cautious, do your homework and stay focussed on what is important.

There are people now likely skeptical that this one is just full of hot air or a capital raising is around the corner given Ambrian Partners coverage? Not sure in hindsight if the Ambrian Coverage was a plus - in the short term at least. A couple of reasons for this - the report was fairly upbeat, valued more on assets for which no farm-in deals have been done yet and maybe just looked a bit over the top - at this stage based on what Nido have confirmed to the market - that is Vitol into Galoc and nothing else.

I think that on the plus side the coverage is good to have out there - BUT ONLY WHEN NIDO FOLLOW UP WITH POSITIVE NEWS ON OTHER ASSETS. Until this occurs people will likely remain skeptical and some people might view the whole situation as what commonly occurs in the market?

I think that The Pres would be well aware of this likely apathetic reaction. To keep an uptrend going it requires NEW money and broker coverage will assist this to happen - but only if significant events take place - such as Vitol into West Linapacan, a farm-in to Coron North etc...

Just calling it as I see it - the market is being cautious and only significant news will overcome this and stop the share price slipping short term in my opinion.

Having said all of that - based on my conservative cash flow numbers for Galoc only using Nido pre tax projections from their presentations (oil $40/barrel) - a method I prefer to the Ambrian valuation - and applying just a pe of 8 and assuming fully diluted 800 million shares (all otions exercised + 80m capital raising) - I get 32 - 35 cents on 2007 earnings - Galoc only.

But do your own research.