exactly bwana, a little hype is good if your a trader. however...

exactly bwana, a little hype is good if your a trader. however it can be dangerous for those that aren't!

Further to the comments above; NDO has stated they will be offering a SIGNIFICANT working interest with NDO retaining a MINORITY working interest.

To me a significant working interest is equal to 30% with NDO taking the final 20% of net reserves.

Hence based on the figures I posted in the other thread;

11.6 billion barrell mean resource which mind you is UOIIP

35% recovery rate = 4.06 billion barrells, and

they only have 50% of the package = 2.03 billion barrels, and finally

a farmout of 30% being a MAJOR interest leaves them 20% of 2.03 billion barrells = 406 million barrells.

Not exactly 11.6 billion barrells anymore LOL!

Don't get me wrong, im not downramping at all - this is all clearly stated in the ann and people need to look beyond the hype.

Ill reiterate - NDO still has a bright future but its nowhere near an 11.6 billion barrell future.