Ann: NIDO TO DRILL ESTIMATED 676 MMBBLS OIP PROSP, page-22

re: Ann: NIDO TO DRILL ESTIMATED 676 MMBBLS O... When Phil Byrnes joined Nido he had a clear set of goals and objectives, list below not necessarily in any order

1. Attract institutions to the register- fail
2. Drill drill drill- fail, fail , fail,
3. attract farm in partners to the sc's- fail
4. Broker coverage- 1/2 mark (only after a cr)
5. Deliver phase 2- 1/2 mark (not yet delivered and was well in the pipe before he came along)
6. Cut costs- fail

What he has achieved is the following.
1. Diluted the shareholders by 46%- top marks
2. Taken the sp from over 4 cents to a recent low of 1.8.- top marks
3. Picked up huge pay cheques week in week out- top marks.

These are not the ramblings of a disgruntled shareholder making things up,. This is fact for all to see. Time has well and truly passed for him to deliver.