this stock is a santa comes early gift, page-19

62strat, all too often the original contracts/motives/feasibility studies are forgotten by market punters, and as time passes they get caught up in charts and insignificant conversation.

So it is with Nido, because as you say, their involvement with Galoc was originally predicated on oil at US$46 a barrel, which at the time, would have been seen as a viable business by their bankers. Feasibility studies, and all that, before Nido took the plunge.

I see this same market quirk with PDN, where their BFS for the Langer Heinrich project was predicated on uranium selling at $US25, yet any thinking person can see the contract price today is many orders of magnitude ahead of the original study. And one by the way, the bankers for PDN happily signed off on - $25lb

Nido are in the same position, because in relative terms to the original feasibility studies they will be rolling in money. Unless of course, someone believes oil will get back to $46.

With OEL, I have no wish to disparage their interests in Galoc, indeed they made a smart move. However it is a benificial interest via GPC, opposed to production sharing. A quick glance at the original contracts with GPC will reveal this is not a matter of semantics.

With the above in mind, soon after Galoc is an up and running business, there's little doubt petro anaylsts employed by broking firms will be issuing guidance on new and exciting investments. It's the money, which no one can deny for too long.

Meanwhile back on the ASX, our market transients are wondering what the price of oilers are doing today/tomorrow