nido identifies 11.6 billion barrels , page-52

Sav-J, in this oil climate one should never discount takeovers, indeed, think like an oil major. None of them have a snowballs chance of finding elephant sized deposits these days, yet most of them have a huge quantity of resources by way of skilled manpower and equipment which needs to be kept busy.

If this were to happen, I very much doubt your super low price of $2 per share would be a consideration, so in my view this price will be in sight before too long, with or without a takeover discussion.

I tend to think we will get a sniff of price changes when NDO tell the market they are actually pumping oil, which as we all know is due fairly soon, and from that point in time we should see plenty of oil analysts running their slide rules over the company, leading to reports of a debt free environment and plenty of funds to carry on with finding more oil.

At this point in time, I know of no other oil company listed on the ASX with so much blue sky in front of it - ie; they think they have 11.6 billion barrels of oil, which is a good position to be in in this climate.

What we speak of here is tangibles, a substantial revenue stream from oil which can be easily measured by anyone with a cursory interest in the company, and a tangible of, say, a discounted one tenth of their oil estimates, that is, 1.16 billion barrels of oil, leaving the remaining 10.6 billion barrels as blue sky.

Think on it, if any Australian oiler informed the market they were a partner in a 1.16b deposit, what would the reaction be. Yet Nido are suggesting a much larger metric.