You raise a very good point in that NDO are in a healthy financial position. And this is only going to get better once we see cash from the sale of oil.
For all the pessimists, sure oil has decreased over 50% from the highs 3months ago but remember the AU$ has decreased relative to the US$.
NDO have projected numbers for both US$80 and US$100 oil and this was done at a time the AU$ was at 90c odd to the US$.
Today we are at roughly 68c to the US$ and oil is at US$70.
Projections @ US$80 for 4000bopd when US$1 bought AU$0.90 = (roughly) AU$350,000 per day.
Today @ US$70 for 4000bopd when US$1 equals AU$0.68 = (roughly) AU$410,000 per day
Now if that isn't a healthy financial position well i don't know what is.
NDO Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)