letter of intent - sc63, page-7

Ozgem, I can understand your position on this but at least management have now shown a balanced focus where the pipeline of projects and current production underpins future growth in reserves and hence production thereafter.

I don't think it wise for a company to throw funds after high risk prospects when it is better to focus on what's known and wait a bit of time to shore up the balance sheet. Just remember Nido currently is seen as a one project company and until we have a diversified production base can the company step it out and push after those exciting prospects that we know exist in the Palawan, though it could be done currently if a partner was found that would cover costs.

If you don't appreciate the managements work then don't hold the stock. After all an investor invests as much in the management than the assets that underpin the company.