looking dangerous..., page-8

re: looking dangerous...(promising) From NDO's Quarterly Activities Report Quarter Ended 30 September 2003...


"...Due to the fact that Unocal has decided not to proceed to Phase 2 of its agreement with Nido and the other SC 14 JV partners certain terms and conditions of the June 2005 Options (NDOO) have become irrelevant.

The terms and conditions June 2005 Options (NDOO) are now as follows:
(a) the exercise price is $0.02 each;
(b) the June 2005 Options may be exercised at any time on or before the Expiry Date;
(c) each New Option carries the right to subscribe for one Ordinary Share;
(d) subject to the Corporations Act, the ASX Listing Rules and the constitution of the Company, the June 2005 Options are freely transferable;
(e) June 2005 Options are exercisable by the delivery to the registered office of the Company of a notice in writing stating the intention of the option holder to exercise all or a specified number of June 2005 Options, accompanied by the relevant holding statement (or an issuer sponsored sub-register statement) and a cheque made payable in Australian currency to the Company for $0.02 per share. An exercise of only some of the June 2005 Options held by a person shall not affect the rights of that person under the balance of the June 2005 Options held by him or her as appropriate..."

Hope this helps clear things up!

Cheers!