NDO 2.33% 88.0¢ nido education limited

I'm out at the moment as I think that the next workover may well...

  1. 85 Posts.
    lightbulb Created with Sketch. 2
    I'm out at the moment as I think that the next workover may well be shaping up to be another failure.

    I wrote to them asking why they will not sidetrack out the 9 5/8" casing (much greater chance of success, minimal extra cost, but no reply).

    Some information that holders may also wish to question these Jokers about is their choice of proposed rig and contractor.

    Fact:

    1. Frontier had a rig called the Frontier Discoverer which was a converted log carrier of all things. This was deemed so bad that despite spending millions on it the Australian government refused to let it drill here.

    Rumour:

    2. The Phoenix is thought to be a similar poor standard rig. Not saying it's as bad but thr rumour in the industry is that it is quite poor.

    Yet again Nido management seem to be going for the 'lowest bidder approach' as witnessed by the choice of well test kit provider. Now I'm not advocating getting in some 6th generation double derrick semi for Gindarra but often going 'el cheapo' doesn't work out well in the oil business where the costs of things going wrong can be very high.

    Ultimately I think this will go up in pre-spud anticipation and if it comes in it's a company maker but I can already see that the Well Engineering planning is following the usual mentality.

    No point me pointing this out to NDO management, they are not interested, maybe other will have more luck.

    cheers,

    Oilman
 
watchlist Created with Sketch. Add NDO (ASX) to my watchlist
(20min delay)
Last
88.0¢
Change
0.020(2.33%)
Mkt cap ! $200.7M
Open High Low Value Volume
88.0¢ 88.0¢ 88.0¢ $11 12

Buyers (Bids)

No. Vol. Price($)
1 55739 85.0¢
 

Sellers (Offers)

Price($) Vol. No.
90.0¢ 20000 1
View Market Depth
Last trade - 10.06am 26/07/2024 (20 minute delay) ?
NDO (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.