nido petroleum keeping mum on raisama takeover, page-11

MM2,

It's all well and good to look at it with NDO eyes.

Put yourself in the shoes of an RAI holder...what would it take for you to say yes to a deal?

What would it take for the RAI Board to recommended acceptance to their holders, given where RAI and it's sp might be post a Cadlao success?...and despite what Sandy said, Cadlao has a high probability of success having already produced 11mmbbls and been shut in for 30 years.

Can NDO afford a deal that would get a yes vote?

Can the combined cash position (RAI current cap raise unknown) cope with the projected work commitments of both co's for this year, pre Cadlao?...RAI have 2+ wells planned 2H 2012 (excluding Cadlao), we have Aboabo, and Byrne says he's aiming for a second in 2012.
Keep in mind NDO's projected outgo this Q is $12.75M, and we shouldn't expect to see any Galoc revenue til early May.

There would be much to think about, and it's not all rosey.