equity raising bought up 11 days ago, page-14

Hi Strat,

I think that the main point of that TH was a decison on going to Yakal or not... if that decision was made on the basis that KIK couldn't get a CR away or not can't say.

Now that they have released the rig (etc.) and capped the exposure I think that their strategy (both NDO and KIK) will be to try and get their SP up in anticipation of Gindara and then use that opportunity to get a placement away (at a better price than they could now).

It is similar to what MEO did in the run-up to Artemis - promise the world but raise capital just in case it is dry... Nido have 4 more wells to drill after Gindara and KIK will want to participate in SC54a when they decide to go back... best to top up the cash if the opportunity arrises.

p1000