my ten cents (was 20 cents)

Pardon the gallows humour in the subject, here's my take on today.

I've held NDO for a long time now and topped up with even more last Friday at 10.5c . . knowing full well that this was a long shot.

As much as I'd like to buy in on the disappointing outcome of todays result and the resulting management blame.

Reality was that the drill was a duster . . and that's not the fault of anyone except geology. I am sure all three JV's didnt sink their cash and reputations on a half baked idea, it sounded very well thought out and in the end, there was water . . but until they invent a seismic that can sense water instead of oil more than 3kms underground . . I think that's the risk we have to take.

The drilled to a zone they measured and predicted was there . . and it was. They found some gas and a good cap . . great, exactly the right geology.

But, when they hit the ideal target zone, it was water filler, that's nothing after millions of years of geology at work, that the management can control, just only measure and manage.

Now what's what? I lost 40k off the bat this morning and Im annoyed at myself in that I could have used that money last week in many other ways . . but I wouldnt have complained if they had hit oil and I ramped up a new house.

So . . Im frustrated, but I (like you) knew what I was getting into, what the odds are and the results that could come either way.

My 10 cents. Hope you all have a good weekend. Get drunk, do something silly and dont think about it until we get the confirmed duster email on Monday.

PS - I still hold, too late to sell when I got there.

Klutz by name and nature today ;)