some comments to the ndo buyers, page-10

Galileo,

You raise a very good point in that NDO are in a healthy financial position. And this is only going to get better once we see cash from the sale of oil.

For all the pessimists, sure oil has decreased over 50% from the highs 3months ago but remember the AU$ has decreased relative to the US$.

NDO have projected numbers for both US$80 and US$100 oil and this was done at a time the AU$ was at 90c odd to the US$.

Today we are at roughly 68c to the US$ and oil is at US$70.

Projections @ US$80 for 4000bopd when US$1 bought AU$0.90 = (roughly) AU$350,000 per day.

Today @ US$70 for 4000bopd when US$1 equals AU$0.68
= (roughly) AU$410,000 per day

Now if that isn't a healthy financial position well i don't know what is.