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The Inside Trader Stock Pick Of the Week - Delayed Report


NDO / NIDO PETROLEUM LIMITED
Date Picked
12-05-2010
Price When Picked
$0.140
Company Overview
Inside Trader comments:

Here's a stock where Directors have been buying and one broker has a strong buy recommendation on it. Nido Petroleum is an oil and gas exploration company. This company has large acreage reserves, mainly in the Phillipines, and is currently installing a rig right now in the Palawan basin. If all goes well the company should see some shareprice increase due to increased revenues. Of course, sometimes things don't go according to plan so treat this as a speculative stock.

The share price has hit 50c before and Directors buying around 15c gives us some confidence.

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from their website...

Here is a statement from the CEO

"As we turn into the year's second quarter, there is palpable excitement in Nido particularly with the ongoing development work at Tindalo and the exploration activities in the outboard acreage. We just released an announcement that the Aquamarine Driller has come on hire and is sailing towards Palawan to commence operations. The seabed coring program is fully underway in Service Contract 58 and interpretation of the 3D seismic data over the southern portion of Service Contract 63 is moving at heightened pace. Markets, be they the capital markets or the oil markets, seem to have settled down to an even tempo. For the Tindalo development, we bid Joanne Williams good luck as she headed to Manila to oversee operations on the ground there. Jon Pattillo, on the other hand, continued to meet with companies interested in to partner with us in the outboard blocks. Everyone in Nido is intensely focused on the work at hand and in delivering the desired results. We are looking forward to a rewarding next few months."


Jocot de Dios
23 April 2010