There is no way you know what value holders place on the Nido service contracts and many people value things in a different way. There is potential but we also know that there are risks. Shareholders also have different risk levels with some not even taking risk into account. Clearly you don't like the risk so you don't hold.
As for the service contracts and having the skills and money to extract value. As companies grow they tend to employ staff that have the knowledge and expertise who will take them to the next step. Sometimes companies do make the wrong decision but generally they are quick to change direction and get back on track.
As for the having the money to extract value there ways and means of raising capital and as I have previously stated, if they were to double the number of shares to raise substantial capital so as to truely unlock the potential of the fields, I for one would back their decision because I believe in the potential it could unlock. Unfortunately, I know that isn't going happen and we will be lucky to see an average of one well being drilled every 12 to 18 months.
Whilst you might question the reliance of a farmout, the more they derisk these fields then the greater possibility that a farmout will occur. Take a look at FAR and how they attracked a major but unfortunately it didn't proceed.
What prudent decisions are you refering to, could you elaborate on this statement? And that they are trying to run before they can walk. It is always helpful if you give detail rather than general statements.
NDO Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
