doubled in price in a month - major buyers?, page-18

re: doubled in price in a month - t4p On 26/04/2006 Patersons issued a research note on the energy sector which, amongst other things, showed just 10 Australian oil companies with higher 2P and EV/2P than NDO. Total 2P: 4.0 (m boe) and 32.15 EV/2P.

On 24/04/2006 NDO broke its all time high 20 cents to close at 20.5 cents. Then on 26/04/2006 NDO was up over 10% closing at 24.5 cents. Coincidence? I know Patersons have a big following and whilst not saying this is the reason for the spike it could be part of the reason.

Then on 03/05/2006 they did a midcap oilers review. This one showed NDO 2P 4.1 (m boe) and 45.89 EV/2P with only 4 midcaps (AWE,BPE, AZZ, COE) greater! ( Sorry, I can't post research notes due to copyright)

On 02/05/2006 NDO hit a new record of 30 cents. Retreated on the 03/05 to be almost back there by the 05/05/2006. Coincidence? Maybe. Either way this is a big acknowledgement that NDO is seen as a big player in the Australian oilers midcap range and bodes well for the future.

Remember that the above makes no consideration for Virgo or Cool.

On another note I would like to thank T4P for his research pre the new management team (saved me many hours of research) and all others that have constructively contributed to the NDO thread.

Regards

Jimm