re:

i just found this on another blog// wasnt sure but found the words a bit harsh but a few things made sense( got me a bit nervous but am still gonna wait for the flow rates announcement)

I have bad feelings about Tindalo.
I can imagine someone from the rig phoning through...we have oil. Then later some sort of news that its all going wrong.
This is in line with NDOs past history, one failure after another.

First we had the farmout with KIK to drill Gindara. It didnt happen. Then the Cap raising to drill 3 wells including Gindara. Brakes put on due to overexpenditure drilling the first two wells and the financial crisis. Problems with Galoc...perhaps unlucky, but hammered the SP down.Then the fallout with the Galoc partners over reserves and the very public argument with OEL.

Then the fallout with Oppenhemeir and co and their decision to abandon NDO resulting in a smashing of the SP again.Sale of a share in SC54A to a junior at giveaway price, desperate to get even the smallest bit of funding.Failure to attract anyone to show meaningful interest in deepwater projects....now means they have to try to go it alone.Pines oil basin study with "major" asian interest that appears to have been abandoned....dont think we will ever hear anything more said on this one.Why? Perhaps the potential can only be seen by the suited gentlemen at NDO looking from the Perth Office.

Recently NDO have released a plan to drill 5 wells with no funding available. Given that no decisions have been made with their respective partners, I believe this plan is pure pie in the sky and borders on an attempt to mislead the market.Tindalo is NDO first project as operator and they have chosen the most uneconomical way to go about it,($125000+US a day for an anchor for the oil pipe!) and are expecting flow rates that have only been achieved before with multiple wells.

With such inexperienced operators, overseen by inexperinced personell, there have been delays in the startup of Tindalo. We might have news by the end of the month that they have encountered oil, but I have doubts it will be flowing anytime soon.

NDO have encountered more bad luck with the poo in meltdown, the "string of pearls" programme could be threatened entireley.

Hope they prove me wrong, and I have to eat my words.

Ater spending $184m over the last 5 years we now have a company with a market cap of $147....that $37m we have to catch up on, plus what was spent earlier.