re: **announcement** hi guys..just some follow up details..this...

re: **announcement** hi guys..

just some follow up details..

this has some extremely BIG benefits for Nido & it's shareholders..(later)

Nido Petroleum Limited
A.B.N. 65 086 630 373
Level 3, 41-43 Ord Street
West Perth WA 6005
PO Box 1190, West Perth WA 6872
Tel: (08) 9321 2844
Fax: (08) 9321 2544
16 February 2005
Australian Stock Exchange Limited
Company Announcements Office
Level 10 Exchange Centre
20 Bond Street
SYDNEY NSW 2000
ADDITIONAL INFORMATION ON COOL ENERGY
INVESTMENT
We refer to the Stock Exchange Release dated 15th February 2005 with respect to the
abovementioned subject.
Nido’s investment in Cool Energy is consistent with its previously stated strategic value
proposition principals in the oil and gas business. Should the Cool Energy technology
prove successful it will provide Nido with greater opportunities to advance existing
exploration and exploitation activities, particularly in the area of marginal fields in the
future.
Of the total commitment of A$1.595million in 2005, Nido’s initial consideration is
$680,000. This consists of an initial acquisition cost of an existing shareholders interest
in Cool Energy, with the balance payable by 1 September 2005 and subscription for the
first tranche of RCP shares. The balance of the RCP subscription shares being payable in
various tranches during 2005. Each tranche is subject to a number of rigorous milestones
including completion and the successful operation of the pilot plant before being payable.
Nido has previously stated its intention to divest a portion of it shares and has entered an
option to do so by the sale of 1.8m ordinary shares for A$450,000.

Nido may at any time convert the RCP shares to ordinary shares on a one for one basis.
If prior to conversion Cool Energy issues any shares for less than 25 cents then the RCP
shares convert to 25 cents worth of ordinary shares at such lower issue price.
For further information, contact:
Mr Dave Whitby
Tel 61 8 9321 2844