is the game still on?

I am thinking if today sell down is just an ah-hoc event caused by the greece issue or fundamentally, Nido is a weak company which cannot break through with Galoc, Tindalo and Gindara assets.

My feeling today is this stock has become an oversold share with RSI at 38, meet heavy resistance at 13.5cents, potentially good news round the corner with new oil coming from Tindalo, Cash on hand with the upcoming oil revenues in the next few months where the first 1m barrel or first 100 days of oil extraction whichever earlier goes back to the joint venture would give Nido a better position to manage its debt and hence they could negotiate better terms for the farm-in strategy for the Gindara.

The shares are now at 13.5/14cents, with the lowest for the last 6 months was 12/12.5cents and with Tindalo oil expected in May and their AGM coming in 21 May where they have 5 resolutions for shareholders to approve, chances are that longing Nido shares in the next few weeks will be a better bet.