over one billion shares, page-3

Hi Cujo,

Was that just for me??

I'm happy to say that I hold Nido and think that their prospects are good.

You can count it down but before the next quaterly is out NDO will have their farm-out completed on at least two of their three blocks and will have Galoc $$ rolling in again.

The great thing about NDO is that they are self funding through production and there is no need for further dilution of existing shareholders. They have around $30MM in debt which is disclosed for all to see, no hidden debt with Nido.

I'll go further than that and say that the shallow water discoverys will be flowing well ahead of other mooted developments in the area such as Caluit. And with Nido as a proven operator in their own right the shallow water development / EWT will not be a strech for them.

At the end of the day this company has a secure future with solid cash reserves and cashflow (once Galoc is up and running that is). Very soon they will have farmed down their interest in most of their acreage and will have the resources of a major to drill and develop some of their prime drill ready targets.

p1000