Galoc North is about as good as it gets in terms of chance of success but by no means a dead cert. All the more reason to make sure they give themselves the best chance of avoiding a "close but no cigar" outcome. What folly it would have been to have sunk 20mill in to a well that didn't test the best location. I'm glad the JV had the determination to do the job right or not at all.
There is still plenty of news to come over the next few months - completion of Galoc phaseII, West Linapacan reserves and FID, Baragatan. Somewhere in amongst all of that we may yet see a Galoc North announcement - just need to be a little patient. There is more happening at Nido now than there has been in a long long time...
NDO Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
