MORATORIUM PERIOD CONFIRMED FOR SC 54 Nido Petroleum Limited (“Nido” or “the Company”) (ASX:NDO) is pleased to inform the market on behalf of the SC 54A and SC 54B Joint Ventures that the DOE has confirmed the approval of a 3 year moratorium period with respect to Blocks A and B of Service Contract 54, offshore Philippines. The moratorium period extends from 5 August 2014 to 5 August 2017 and provides both the Block A and Block B Joint Ventures sufficient time to study the presently sub-commercial areas and other areas of interest within these Blocks during the moratorium period.
makes me wonder why the directors are throwing the towel in.
there's plenty of meat on the bone to keep this company running.
problem is "we have the wrong people running it".
.. .
NDO Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held
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