highlights of quarterly report

DW new title “President” is a way forward for Nido if Nido is to become a major global player in the oil and gas industry. The title is used by all the major companies on the NYSE and very common amongst SE Asian companies. Very uncommon in Australia, but who cares, Nido has now become a global entity. We now have Nido Petroleum(UK) Ltd, Nido Petroleum (Philippines) Ltd, etc.

West Linapacan oil field (100million barrels) looks set to be developed – no mention on the JV partners, but based on previous press reports, similar arrangement to Galoc.

NW Palawan Basin – Pegasa Turbidite Play; new contract awarded to Nido, DoE sign off still required. 'Blue Sky' prospects.

Northern North Sea Blocks relates to the Norwegian Sea. Nido no doubt will be bidding for permits which close in November. Norway is the 3rd largest oil producer in the world. If unsuccessful-who cares - Nido might even farm in to joint arrangements with Granby/Team Oil who have been awarded several exploration permits by forming an alliance with DNO (one of Norway's largest oil company).

Of the 76 ASX junior oil companies, Nido is now in the top 8 in terms of market cap. This time last year, with a different management, Nido was 4th last.

Although still been kept in the dark re. Galoc flow rates, reserves, forcasts etc – the report in 2 weeks should be a beauty. Just window dressing to go, I assume. DW has left this for another fortnight for strategic purposes. No need to elaborate, but its pretty obvious.