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Hi 62strat,

"Looks like the seller doesn't want to unload any more at this level."

Current SP, 4 or 4.1c is only 1/3 of the fair value 12c/s.

I found NDO is significantly undervalued expecially compared with any other ASX listed energy stock. If anyone can find another stock to compare, plz let me know I would be very pleased.


The Galoc oil field-22.8% = Usd$32-35+ million (refer to OEL deal)

Cash on hand = $20 million

Already=$52-55Million

Already = 4c/share.

So the market values the following

"the significant potential value in NDO exploration portfolio – which has the potential to hold up to 24 billion barrels of oil equivalent (gross mean hydrocarbons in place, unrisked)"

AS ZERO!

2 billion bbls prospect AS ZERO
3 billion bbls prospect AS ZERO
45MMbbl prospect AS ZERO
66MMbbl prospect AS ZERO
1TCF+ gas prospect AS ZERO


re-development oil field which has produced 8MMbbl before
AS ZERO.

JV with Philippine National Petrol company
AS ZERO.

Another 2 wells development programm
AS ZERO

Galoc stage II --could be larger than Galoc itself
AS ZERO

I will write another post to explain why NDO's fair value is 12c, but to be honest, I would rather buy more shares at current SP level.