the problem with ndo...

I'm no expert - as you will all know - but it seems to me that whilst the focus has been on NDO's problems of sourcing a rig (just one!?), you seem to be assuming that once that hurdle is overcome that it's only then a matter of dropping a pipe overboard and sucking up oil...

now, I don't know how many of you are familiar with the odds of finding significant commercial quantities of oil anywhere - never mind at sea in 300m? of water, but it's a chancy affair at the best of times.

I'm not saying NDO won't eventually be successful, but think of the hurdles. After the rig(s) issue is overcome, there's getting the seismic info verified, drilling, testing, oil quality, blah, blah, blah..... and it's not as if the Phillipines has ever been regarded as a potential Saudi, now is it?

so there's a huge amount of work in front of NDO yet. and given the time it's obviously gonna take to achieve all this, my thoughts are still that there's plenty of time to get into this one. I can't see it making any real headway all year. And they certainly won't be drilling in the Phillipines this year going on their progress to date.

The North Sea? it's clapped out isn't it? I think they should pull the plug on NS activities and focus purely on Phillipines play.

Cool Energy, wasn't that supposed to be well under way by now? it's a side show anyway isn't it?

so, in my opinion, NDO needs to focus and get moving. Failing that, you'll be looking at sideways and down for ages to come.

(..... just my opinion. And you didn't even ask for it!)