It is anticicipated that Nido will be pursuing a listing of the...

It is anticicipated that Nido will be pursuing a listing of the Company's shares on London's AIM market.

I form this view based on the following factors:

1. Listing on the AIM market is a natural progression given Nido's UK North Sea focus (refer to 100 day wrap up report:16/12/04).

2. Nido is continuing to acquire further acreage in the North Sea (refer to 100 day wrap up report).

3. Nido's shareholder base has also undergone major change (the majority of the 3.4 million dollars raised from institutional investors late last year came from UK institutions: refer to 100 day wrap up report).

4. As shares will be freely traded on both the ASX and AIM, Nido will be allowed easier access to capital markets in either jurisdiction as it continues to expand and explore its North Sea asset portfolio.

5. Nido has appointed Ambrian Partners (refer to 100 day wrap up report) a member of the London Stock Exchange, as its Financial Adviser. (refer to www.ambrian. com regarding their profile).

6. Ambrian recently played a significant role as the sponsoring broker for Elixir(ASX:EXR) in achieving an AIM admission and listing. (refer to announcement dated 11/11/04).


Background on AIM. (Source:The Weekend Australian Financial Review;April 9-10, 2005)

- London's Alternative Investment Market is booming, and even big players are wading in.

- The AIM market bills itself as the most successful growth market in the world.

- The exchange's overall market cap. reached $AU80 billion by year end, outstripping Tokyo's small cap market by almost $US30 billion.

- In 2004, 335 new companies were listed on AIM, more than double the year before. 100 of these came from outside the UK.

- AIM was founded in 1995.

- Half its capital comes from institutions.

- A host of small companies now look to AIM when they need money to grow, rather than to venture capital, private equity or bank investors.

- AIM has re-emerged as a market of first choice for companies seeking development or expansion finance.

- In the last year, most of the world's largest investment banks, such as Merrill Lynch and Goldman Sachs, have applied to become nomads("nomads" stands for Nominated Advisor- someone who vouches that the company's reports are factual and that its business and growth plans are sound ), and some are major shareholders in AIM companies.