NDO sold it's share in Cool Energy as per 31 Dec 2008 quarterly...

NDO sold it's share in Cool Energy as per 31 Dec 2008 quarterly report

Cool Energy
At the end of the quarter, the Company decided to divest of its entire interest in Cool Energy
Limited. Since the Company originally invested in Cool Energy in 2005, its oil and gas asset portfolio
in the Philippines has grown substantially together with its exploration, development and production
activities in that region. The divestment of the Company’s holdings in Cool Energy will support the
Company’s continued focus on current activities in the Philippines.
The Company sold 3.6 million ordinary shares to Shell Technology Ventures Fund 1 B.V. pursuant to
a sale agreement dated 16 January 2009. The remaining 3.88 million redeemable convertible
preference shares are expected to be sold in February 2009. In total, the Company will generate
proceeds of over A$1,000,000 from the sale of its holdings.