If memory serves me there was speculation regarding Raisama (RMA) now Peak Oil (PKO) as Nido had a look into the Cadlao oil development which had farm in issues.
The interesting part comes in that OXX has a takeover on PKO currently and obviously the issues Cadlao had put that on ice. Now that these issues have been resolved its back on.
Would Nido be interested in Cadlao, I would probably think so as it has been speculated and there was an acknowledgment from management earlier when they first looked at it but the farmin agreement had certain hurdles to meet that meant any deal could be drawn out until this was resolved. Now a deal with OXX could be on the cards with Cadloa resolved and that would fit nicely into the speculated look in at an Australian oil development, New Zealand acreage and further SE Asia assets. This is my honest opinion.
Who knows either way something has to happen as the SP has gone no where until recently.
NDO Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
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