volatility and price movement, page-5

Lower volume is what I was waiting for .. the relentless selling over the past couple of weeks has kept me on the sidelines.. but had to enter in at 14.5c today

with so much upside at these prices.. it was too hard to resist. Potentially one of the cheapest oil producers on the asx.

The next step will be for NDO to prove that they are cashflow positive .. and it looks like they are well on their way. With production only restarting late February, they were able to still perform strongly in the first quarter.

With sales picking up and cost reductions underway, NDOs future cashflow is looking bright

In terms of future opportunities, one can not underestimate the potential that exists with the shallow water reef play at tindalo and yakal. With cash flow from these wells to fund 100% of the future 20 drilling opportunities in the reef. With success rates of above 50% along this oil fairway.. it is a low risk play

Will not be long before this one bounces.. with so much going for her.. she is just too cheap at the moment