Cujo's "Facts":What happened to Nido's cash? > Well NDO had...

Cujo's "Facts":

What happened to Nido's cash?

> Well NDO had $27MM in cash at the end of the prevoius quaterly an was estimating $11.3MM for exploration (Yakal and Tindalo) and $1.4MM for development. Actuals were $10.3MM and $2.02 - So under budget for two discoveries and a bit over on the non operated Galoc development.

Eaten up finding uneconomical resource.

> Spent $10.3MM (AUD) to find 60% of how much?? For arguments sake lets say 2MM bbl recoverable. That is a finding cost of $US5.60/bbl (well, I have "forgotten" the seismic but it is small compared to drilling and the recoverable volume is conservative). That is not a bad finding price - let's hope for more!

Let's face it with so many shares, dwindling cash, uneconomical finds, can't find anyone to farm in, big sellers, the list goes on and on.

> Number of shares?? what difference does that make? If NDO did a 100 for 1 consolidation would you fall over yourself to buy at $8/share??
> NDO have around $12MM in cash on hand (and given receipts of $5.992 and liftings of 177,839bbl @ assumed $US40/bbl and $US/AUD of 0.65 -> Total is $10.94MM AUD - so there is ~$4-5MM AUD in receivables which is as good as cash. So Cash plus Receivables of ~$16-17MM AUD... seems Ok to me.
> Can't find anyone to farm in... well there has been articles quoting senior PNOC officials as saying that Shell and BHPB are interested in SC63 - and it is deep water, interest in the shallow water should be even stronger - if OEL can get a farm-out away then Nido can too (and do better due to more seismic and closer proximity to Galoc and Malampaya and Nido and Matinloc...).
> Uneconomic finds... If you are finding oil at ~$8/BBL and it is in less than 100m of water the economics sound pretty good to me.

Who can tell me what the point is finding oil in the middle of nowhere, that cost massive cash to drill, and all this without a partner.

> SC54 is no more "in the middle of nowhere" than Galoc or Malampaya. NDO have a partner in KIK who while not a big player or cashed up are linked with IMC (AKA UniThai - the guys who build just about every jacket and platform for the Gulf of Thailand, I'd guess about 10 a year... they also install the platforms and lay pipe... pretty handy if you plan to produce...

It's crazy how the company can spend all that cash without any plan.

> I think you will find there is a plan... A sound one at that...

Now it's just over 7 cents.

> About 8c today... Your point is?

Good luck with this dog.

> I consider myself a dog person, don't much like cats...

PS. can anyone tell me how much more this flea dog will spend to extract the latest uneconomical find from beneath the earth?

Only serious replies please.

pps...i don't hold....thank god.

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Right, any more "Facts"

p1000