This should go to ASIC & ASX

"this should go to ASIC & ASX".

yesterdays announcement by Byrne's is a stunner. copy below.

are they suggesting that Nido will remain listed.???? ie: going concern.

in the announcement dated 4/8 the board "unanimously says take up the offer".

look at the announcement below, this is telling another story.

Mr Byrne's gets pay out over $3MM, he is acting like nothing has happened, suggesting review will be good for shareholders.

I'm feeling like I was tricked into selling my shares.

who knows next thing we might see incentive shares offered to the remaining board members.

some thing is not right with yesterdays announcement.

do BCPE really want 100%.????

lastly Phil should be gone, he got his severance pay out $3MM.

would I have sold my shares the day before this announcement.???? probably NOT, still waiting for elephant oilfield.

Nido Announces Strategic Review

In the context of BCP Energy Pte Ltd (‘BCPE’) acquiring control of the Company the Boardintends to use this opportunity to undertake a strategic review of the business and to consider initiatives to improve the attractiveness of the Company’s capital structure.
This review will consider several initiatives and has the potential to include a possible share consolidation and a sale of unmarketable parcels in order to make the register more attractive to investors and to reduce share price volatility. We will keep shareholders updated as the strategic review progresses.

Phil Byrne, Managing Director, commented: “this is an exciting time for the Company and we
look forward to steering the strategic direction of the Company with the benefit of a strong supporting shareholder.”
Phil Byrne
Managing Director

========================================================

4/8
NIDO DIRECTORS UNANIMOUSLY RECOMMEND 5.5 AUS CENT CASH

OFFER FROM BCPE

5.5 cents in cash to be offered per Nido share, a 62% premium to 1 month Nido VWAP.

The Directors of Nido have unanimously recommended that Nido shareholders

accept the cash Offer1.

19.66% shareholder Petroleum International Investment Corporation has agreed to sell its stake in Nido to BCPE at the price of the BCPE Offer.

Nido Petroleum Limited (Nido) and BCP Energy International Pte. Ltd (BCPE) have executed a

bid implementation deed (Implementation Deed) in relation to an off-market takeover offer (the

Offer) for BCPE to acquire 100% of the shares in Nido not already held by BCPE. Nido

shareholders will be offered 5.5 cents in cash per Nido share, representing a substantial premium to the Nido share price. The Offer is subject to a 90% minimum acceptance condition.

Nido Directors have unanimously recommended that Nido shareholders accept the all-cash
Offer, in the absence of a Superior Proposal. Each Nido Director who has a Relevant Interest in
Nido shares has advised Nido's Board that they intend to accept the Offer in respect of their Nido shares in the absence of a Superior Proposal.
The major shareholder of Nido, Petroleum International Investment Corporation, which owns
19.66% of Nido, has executed a conditional share sale agreement with BCPE to sell its entire
holding to BCPE at the price of the Offer.