add it up, page-8

If they are showing debt at at 30-9-2010 at 10.4m then add the cost of the AD plus the work overs for another quarter.
Plus then add overhead cash burn plus chopper costs and then interest etc etc etc.
They are clever at concealing the real picture. its like all the information is there but it not. its cryptic and you need a forensic accountant too decipher. nothing with nido is straight down the line.

the picture is grim.

add to this any short fall they will need to contribute at Gindara if it goes over $25 million.

plus another quarter or 2 of cash burn because Jocot needs 2 offices, and a chopper, and Gindara if successful will require development which will require more $$$$ and at least 18-24 months away from being able to bring in any income.
SHELL is not free carrying any development cost, and it will cost tens of millions to develop Gindara, even build a pipe to malapaya up the road will cost big time.
So nido and kik will be shaking in their boots when this time comes because they don't have a cent to pay for this. So i guess shell will help out.
Shell will put its arm around KIK and NIDO and will say, "listen boys, i have a good idea, i will help out by taking Gindara off ya hands, so u don't have to worry about any further costs", and want can nido and kik do about it. NOTHING. so another lost cause.
Galloc is in decline and is petty cash in the big picture after the hole Jocot and Williams blew in the sidewall of the company.

more cap raising, more convertible notes and more dilution, for what, so jocot can keep his 1.6mil salary.

This mob have really turned the company into a laughing STOCK.