Ann: Quarterly Report for period ending 31 March , page-2

re: Ann: Quarterly Report for period ending 3... Highlights look good. Emphasis in bold:

"NDO Quarterly Report For the period ending 31 March 2009

Nido Petroleum Limited (“the Company”) is pleased to present its quarterly report for the three months ending 31 March 2009. Operational Highlights _________________________________________________________________________ Galoc Operation and Production
• 1.3 Million barrels (gross) production from the Galoc field since start up in October 2008.
• Average production of over 14,500 bopd (gross) since the recommencement of production in late February 2009.
• One crude oil cargo of 207,764 barrels (46,288 barrels net to Nido) lifted from the FPSO and sold during the quarter with cash revenues received from this cargo in April.
• Inventories at period end totaled 294,061 barrels (65,513 barrels net to Nido).
Exploration/Development
• Up to 24.5 million barrels of oil in place independently confirmed for the Tindalo discovery.
• Up to 10.7 million barrels of oil in place independently confirmed for the Yakal discovery.
• Initial screening studies suggest economic viability of Tindalo standalone development for first oil 2010.
Corporate
• Bill Bloking appointed Chairman elect from 16 May 2009. Eduardo Mañalac appointed to Board and James Brown to retire at the close of the Annual General Meeting on 15 May.
_________________________________________________________________________ Financial Highlights
• Closing cash of $6.6 Million at 31 March 2009.
• Revenues from crude oil sales during the quarter of $7.2 Million predominantly from December 2008 cargoes.
• Receivables due to Nido from the one cargo sold during the quarter received in April 2009."