Cash as 30th sep $10.45m expected outflow quarter ($22.00m) Placement $19.875 SSP $10.00m Share of oil in FSO should cover abandonment fees/ operations im guessing.
SO you have expected cash at end of dec quarter of ~18 million now is this enough cash for the purpose of the cap raisings
"The proceeds from the SPP Offer are intended to be used to secure Nido?s future exploration program, including the drilling of the Gindara and Aboabo prospects, for general working capital and partial debt reduction"
so $18 million is going to partially pay down debt and pay for the drilling of 2 prospects ? Galoc is declining and will need additional investment to increase production of remaining life of field which nido simply do not have the only other form of cash they have is hitting investors up again looks as though galoc phase #2 if it goes ahead will has been through to cost US$120 million nidos share being in the region of US$25 million.
NDO Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
