re: News: Nido Petroleum focussed on Palawan ... 'The only exploration I'm confident about for 2013 is getting Galoc Nth drilled, I'm just worried about NDO's capacity to pay their way in it. Galoc dev $187M, NDO's share $43M, borrowed $30M...$13M shortfall.'
From the announ on 20th July when funding was ann for the $30m, NDO stated clearly that "facility secures significant portion of funding for Galoc Phase II development."
So I guess we continue to speculate but it seems to me that they will try and fund the $13m it from cash flow. However, they certainly cannot afford to drill anything else unless they get a JV partner to do so or until galoc II kicks in. Heaven forbid another cap raise.!!
re: News: Nido Petroleum focussed on Palawan ... 'The only...
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