Have to agree galileo_The takeover thought did cross my mind...

Have to agree galileo_

The takeover thought did cross my mind after reading the initial ann and looking at the company structure.

Its much easier and beneficial to a major to come in, offer NDO shareholders say $2.00 per share for the 957,509,774 shares currently out there and, and ultimately control the complete 50% share of the holding.

This would cost the major approx $2 billion to undertake, which is a 4 fold offer increase on its current SP to shareholders and, give the major full exposure to the potential 2 billion barrell resource, worth about $120 billion @ $60 bbl with the added benefit of the potential resource extension and multi TCF gas plays.

Its obviously much more valuable to them that way, hence could be another reason NDO are offering a majority stake in the project as opposed to playing hardball.

Given the size of the controlling interest in the phillippines NDO has, with numerous majors moving into the area applying for SC's it will no doubt get interesting.