Ann: Appendix 3B , page-21

Confirmed reserve you say Gary??

What happens if the WLA field or any of the other fields are uncommercial? This can occur for a myriad of reasons including water leakage etc. What are your suggestions then Gary? Ever heard of the saying 'never count your chickens before they hatch'? It's a good saying for those who remain risk averse in both shallow and deep water oil drilling.

Why wouldn't I buy? Good question. Have you been looking at the share price lately (ie. last 3-4 years)? Unlike many speculators on this forum (and the occasional rampers... alas poor old Talal, must be heading back to uni to do his PHD by about now), I have been in Nido for over 6 years. I bought shares @ 28c, 18.5c and a few more at 10c. (I also bought a fair chunk at 3c and offloaded them at 4.3c) I took a risk when I bought at those prices and I have to live with it. I don't blame anyone for my decision to invest, although I have some serious issues with the previous management. Many wonderful and prospective finds have been trumpeted by both board and management alike over the last 7-8 years and approximately 85-90% of the drills have failed to find a commercial field. There's that word again, 'commercial'. So please beware rattling off comments like MMBO, BOPD and comments like 'confirmed reserves'. In this market, it ain't worth a pinch of sh@t until it's been pumped to the surface.

And before you say it, I am in no way downramping this stock. I would like nothing better than to see it spiral northward. Unfortunately, the last 5-6 years have made me a realist. This is a high risk game and as such, people should be minded to conduct their research diligently and refrain from giving advice about buying when they really have no idea whether a reserve will be successful or 'confirmed.'

Just sayin'