expect 50mmcf per day in june, page-3

"gas discovery at the Aboabo A1-X well (Phillips Petroleum Ltd, 1981) located in the southern sector of the block,
reported to have flowed gas at an estimated rate of 50 million cubic feet per day on test."

I know HOG is producing 7 MMcf gas per day, MC is $50 million.

The Aboabo A1-X well already reported 50 MMcf per day on test, so I also believe the chance of success should be quite high for next drilling.

In next few days, we may see the announcement regarding the drill rig acquired, and the detailed drill plan.


The SC54B 2D seismic result is too early to know, Shell's decision cannot change the 2 billion bbls potential at all. NDO is definately oversold by this news.

Now NDO's MC is only $45 million

vs

$20 million cash on hand
producing half million barrels of oil per year,
up to 24 billion bbls in place

I tend to believe NDO SHs may see a takeover bid very soon. Anyone else got some idea regarding the possible takeover? I reckon before the SC63 drilling, NDO is worth $100-150 million, i.e. 8-11c/share.