galoc offline, page-3

Barney putting me on your ignore list is what gets people into this situation in the first place. Many holders here have an awful lot riding on these guys actions all i ask is you actually take a step back and look beyond the headline into each announcement after taking off the rose tinted glasses. lets go through the anns one by one and the implications of each.

Nido gets a farm out which looks a great headline. But look at the detail they only get a 75% free carry they only get paid minimal back costs. How much time effort and money has the JV spent into getting Gindara to a drillable prospect. If it took them 2 years to hammer out this deal you have to wonder if a holder could of rung Shell and organised a better deal over the phone.

The second ann out today about tindalo operation update. Still producing 75% watercut still under break even costing US$100 k a day. They mention they can fix the problem good on them for pointing out the problem but do they have the skills to fix the issue i really do question the competence of such an outfit after so many mistakes.

The third ann about galoc. This i find the most troubling announcement galoc is the only reason why Nido have not had to go cap in hand to market yet like KIK. With galoc offline it could take some weeks to get it back up ad running again this has put what i assume to be a very tight financial situation into a whole new league. One has to ask if it was such a basic mistake shouldnt this of been one of the first items to cross off the have we doe this right list ?

Holders have every right to be angry at what i post but look at nido for what it is. Im trying to provide some balance in a forum which has very little balance and lots of they will get it right next time mentality over and over again. I do not have the technical nous of P1000 or many posters but i believe i can wade through the "spin" the company is so good at putting out to allay holders fears. I wish holders all the best stop attacking the arguer and start attacking the argument.