NDO 0.00% 86.0¢ nido education limited

"" The problem with the corrosion on the fittings is down to...

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    "" The problem with the corrosion on the fittings is down to someone making a mistake. The issue is if it was on surface then it's an easy fix on the sea floor then it's another story all together."""

    Naza, after making inquiries, the problem as I recently heard it from an expert with first hand knowledge of the Galoc specifics, is the entire subsea tree has been replaced, and the reason given was that it is due to a poor choice in the first instance. Corrosion incompatibility, etc

    The need for this extensive work explains the time delay, it also tends to validate the more recent projections of a start up date, ie: "Soon"

    Further, Nido is off the hook on this blunder because GPC is the operator choosing the modus operandi in the first instance, and it's likely Nido have been kept in the dark on the scale of the work required to come up with a lasting fix.

    I now think the recent verbals people have been getting from company reps on a start up date have substance to them.

    "Soon"
 
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