arttse - for those interested ... G'day Arttse, yes, I am almost...

arttse - for those interested ... G'day Arttse, yes, I am almost always logged on.
Warm greetings to all, apologies for not posting as much as I would like to but have recently over-committed myself to more direct assistance to people that is stretching the time resources a little.
Many thanks as always to those committed individuals that continue to assist the thread on a regular basis, always appreciated ...
: )

As requested, an assumed speculative snapshot of Nido from my perspective currently would be summarised as below. Detailed expansion on those assumptions at this stage prior to confirmation of & detail from the company would be somewhat premature & risked.
This is said because those that are aware as to the (real+speculative) value(s) of the high impact, diversified asset base of this company combined with proven management competencies & dynamisms, understand that with NDO, any variable can & should be considered.

We now know that a capital raising is underway following a US & European roadshow using the Ambrian report & the November05 company presentation.
The market has told us that the raising may be around 15c, I will be watching closely to see not necessarily the price, but to whom this placement is going to.

-The Nov05 presentation states that Coron Nth will be drilled in 06 & highlights the importance/values of 3D seismic interpretation yet as far as I am aware, the majority of SC54 is covered by 2D seismic only.
They recently employed a young high-callibre geo-physicist so one could assume that the short-term necessity for substantial capital outside the current business plan may be directly related to the company understanding the errs of HDR & are risking a little capital dilution in the short term to fund & conduct a seismic program for the longer term benefit of a potentially increased (free-carried) equity position if said seismic confirms the exploration prospectivity of the SC54 permit; ie- multiple high impact exploration structures with a couple elephant ducks blissfully unaware that they will soon be in 'The Line!' ...
: )
-The presentation also referred to the company currently monetising the UK assets, that leaves only a handful of primary variables, two of which would require capital outside the current funding projections.
-The 'Rapid Oil Development' strategy is yet to be elaborated, initial purchases or direct/indirect access to structures that fall within these parameters may require part/full payment in the near future if this strategy is to begin in 2006.
-The stated objective of increasing West Linapacan B equity may also presently require funds.
-Though low probability, they may intend to be operator of the Coron Nth well which would then require funds very soon, even if not the operator, some level of commitment would be required short-term.
-A left field development/opportunity may have been presented/identified that requires commitment.

Vitol through their involvement have authenticated the Galoc asset development, of which the current market capitalisation reflects only a discounted value of, (NDO pre-tax cash flows US$57m @ US$50bl WTI, US$70m @ US$60bl WTI).
The (simultaneous) West Linapacan A redevelopment details, ie- JV partners, financing, flow rates, reserves, etc is also yet to be disclosed ... Vitol have stated that they have not the interest in regional exploration so that leaves the door open to another player soon emerging if Coron Nth is to be farmed down by year's end. If indeed another 'apex' company enters the region, acknowledging the above values, I think that the market will collectively value NDO, (undiluted, post placement capital structure of 750m fpo) between AU$250-300m m/c pre-drill.
One should look at the UK domestic energy fundamentals & the company's assets there to understand/recognise that with the successful development/redevelopments to occur at SC14, excluding exploration success at SC54, NDO has the asset scope to achieve AU$1b m/c by 4QCY07.
With exploration success on a potential 2008 program that may become the envy of all the mid-tiers through to the upper-end, NDO market capitilisation variables become truly blue-sky.

No equity is without risk but NDO's unique asset position, management competencies & commitment has compelling appeal to all elements of the market & I would personally encourage all to get exposure, sit back & tick all the boxes as these guys execute a business structure in a sector environment that will have underlying fundamental strength in the time-frames necessary to extract/create those values ...

Yes, I have obvious bias for how could one understand & still not possess some level of emotional attachment - NDO is without a dynamic peer, she 'punches way above her weight class' & the ball has only just begun rolling ...

It will certainly be an interesting 'two weeks', warm regards to all & best of luck in any & all positions ...
: )





NB- Disclosure & sentiment covered in the above.