significant break above 1.8c...

But I'm not going to get too excited just yet...

It has been a long wait since last October, in which time plenty of shares have changed hands below current levels...therefore I would like to see another day or two of good volumes above 1.8c before I am totally convinced that the breakout is sustainable.

Then I would be hoping for a gradual rise over the following weeks...perhaps into the high 2's, where I would expect to see some consolidation.

An anouncement about the Galoc JV, will obviously throw a spanner-in-the-works...but eventually, I'm sure NDO will resume it's new long term trend.

So far, I have been very happy with the daily action, as the bigger buyers seem to be showing considerable constraint and appear to have set daily price limits...which suggests they will simply stop buying if it runs too hard.

This is good for everyone.

Obviously they want to get as much stock as possible for as little as possible...therfore, I also suspect that we may see some selling pressure here and there just to keep things honest!

NDO is a dog that seems to have changed it's spots of late, with some significant moves at board level...and once the JV for Galoc is confirmed, the transistion from dog to emerging producer should be complete.

But there is more to Nido than just Galoc...don't forget they also have the producing Nido and Matinloc fields, which could unlock an addtional 2m barrels above existing reserves...and then there is the Pagasa Turbidite play possibly hosting elephants and currently getting a serious review from certain "other" players.

I'm not sure how long it will take for the market to warm to Nido, but perhaps with a little "roadshow" or two from management, NDO may well experience a significant re-rating.

It might not happen overnight, but I am sure that by the end of this year, Nido will be trading at many multiples of it's current price...regardless of the usual "trading" noise along the way.

As I see it, NDO is currently at a similar stage in it's evolution, as what PCL was just prior to the WPL JV announcement...which took it's shares from about 1.5c into the 20's in just 8 months.

Wouldn't that be nice!

Cheers!