NDO - Nido petrolium

[bombsquad]

Nido has intests in Phillipine gas/oil fields

Nido currently holds a working interest of 22.279% in the Galoc field.

This Fied is expected to Raise the phillipine oil production 60+ percent

On the virge of production with good company announcments and share price rose 10% today in a s##t market.

I hold.

Sorry I couldent find a thread so I have started one.

More info available on www.nido.com.au

P

[shasta]

Nido has intests in Phillipine gas/oil fields

Nido currently holds a working interest of 22.279% in the Galoc field.

This Fied is expected to Raise the phillipine oil production 60+ percent

On the virge of production with good company announcments and share price rose 10% today in a s##t market.

I hold.

Sorry I couldent find a thread so I have started one.

More info available on www.nido.com.au (http://www.nido.com.au)

P

NDO - Galoc Update (still more delays! :()

http://www.stocknessmonster.com/news-item?S=NDO&E=ASX&N=421900

Yakal-1 Oil Discovery (Oil column 78m - 93m!)

http://www.stocknessmonster.com/news-item?S=NDO&E=ASX&N=421909

[small fish]

Great news regarding Yakal and management have suggested Tindalo has a bigger trap so hopefully it will be at least as big again. If they managed to get 5000 bopd each well it would be a great result. And with another 18 odd similar targets in the shallows of SC54 there is enormous potential here with NDO and KIK before you even get excited about the several hundred million barrell targets beginning with Gindara late 09.

[bwana]

little interest in ndo on this board it seems

[bermuda]

little interest in ndo on this board it seems

Just heard some info from Peter Strachan on NDO and KIK. I looked both up and have to say they both impress me immensely. I think from a cursory glance that these co's are onto something a little bit better than the likes of AED and NWE. Lots of shares on issue but worth watching. Their charts show massive drops over the last few months but hey , what's new about that?

[shasta]

Just heard some info from Peter Strachan on NDO and KIK. I looked both up and have to say they both impress me immensely. I think from a cursory glance that these co's are onto something a little bit better than the likes of AED and NWE. Lots of shares on issue but worth watching. Their charts show massive drops over the last few months but hey , what's new about that?

Bermuda

Galoc oil is flowing @ 15,000 bpod & NDO has 22% of it...

OEL has an ann out (see thread), first cargo of 300,000 picked up

OEL has an indirect 18.28% interest thru there shareholding of Galoc Production Company.

Both NDO & OEL have great acreage in the Phillipines ;)

[small fish]

NDO and KIK were looking to have a jv partner tied up before christmas which is probably the only significant news outside of any resource assesment of Yakal/Tindalo. If they can land a big fish and the markets are ok the share price might get a nice boost but the real action will begin with Gindarra supposedly late 09. Should be a few opportunites to build a position.

[shasta]

NDO and KIK were looking to have a jv partner tied up before christmas which is probably the only significant news outside of any resource assesment of Yakal/Tindalo. If they can land a big fish and the markets are ok the share price might get a nice boost but the real action will begin with Gindarra supposedly late 09. Should be a few opportunites to build a position.

NDO - First Galoc Revenue received :)

http://www.stocknessmonster.com/news-item?S=NDO&E=ASX&N=432810

[trader10]

Shasta,

There is accumulation at works atm.... I think we are going to hear from NIDO pretty soon.....

I'm happy to be in today....

Interesting times ahead :)

[trader10]

Fast fingers are a goner at 0.075..... pressure is on.....

..."production is expected to recommence in mid-February 2009."...

take it as you want....

http://businessmirror.com.ph/index.php?option=com_content&view=article&id=5059:galoc-oil-venture-defers-shipment-on-vessel-repairs&catid=53:agri-commodities

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

..."The PNOC-EC Service Contract 63 is estimated to cost P470 million and will be done in partnership with Nido Petroleum Philippines."...

http://businessmirror.com.ph/index.php?option=com_content&view=article&catid=33%3Aeconomy&id=5629%3Agovernment-private-sector-joint-venture-activities-amount-to-p653b&Itemid=60

[trader10]

OUCH boom boom...... -10.81% sell off pattern from yesterday is continuing....

On the other hand there is accumulation happening believe me..... I've picked up another parcel....

Anyone concerned about a potential info trading here contact ASX.... I know of 2 people that already did....

luke.reynolds@asx.com.au

info@asx.com.au

Phone: 131 279
(61 2) 9338 0000

cheers :shock

[trader10]

Good to hear from Nido after couple of calls....thanks ASX....we do need to keep financials and companies more honest from now on....

So we do have an answer or a few....hummm are they all true ? hummmmm.....now, you 've got to make it up for yourself.....

But, one thing I know....or I hope.....Galoc and other projects should be on track and that's what's matter to me......

Nominee selling off to repay their own mistake on margin calls ? hummmmmm I really don't care about it anymore.....

I am now, sort of satisfied about more news....even thou having a chat with Jocot....

Better clarify this way..... I'm holding and see value on this stock once again....at least at the moment.....

I'm moving forward and expecting more positive outcome soon....

:) :wink:

[trader10]

NEW TOP 20 Major Shareholders will be most welcome showing up on their website IMHO.....should we ask it for ?

We want clear skies here.....we want to feel confident and happy with our investments.....this sell off was not nice IMHO....


cheers all and good luck ;)

[trader10]

Snappy happy I'd say..... :)

This is shapping up for a explosion upwards in a near future IMO....

I was happy to grab another piece of it.....

Interesting times ahead that's for sure...

We have not seen vols like this for a while now... 22,277,112

Good luck all and hold it tight :)

[trader10]

It's likely we do get some news this week.....Galoc, Tindalo, JV.....

could be interesting especially if crude oil prices does go back to the 40's.....

Looking forward to an update and onlines back....

[trader10]

Smells crude at Galoc once again.....NDO and OEL greenies.....

cheers

[trader10]

Here's recent Top 20 Shareholders for interest folks.....

Got this from a mate.... ;)

2 days to go......hope the fax is warming up......

[trader10]

...."The owner and operator of the Rubicon Intrepid FPSO, Rubicon Offshore International (Rubicon), is presently undertaking reinstatement of the M&RS. These operations will utilise the services of a saturation diving team and two vessels, the AHV Sea Sovereign and Rubicon’s own vessel, the Maverick. Mobilisation of the necessary equipment has been completed and reinstatement operations in the Field commenced on 22 January. Reinstatement is expected to take approximately 7 days subject to weather conditions permitting continuous operations.

In addition, a Hold Back Mooring System (HBMS) will be installed for connection to the stern of the Rubicon Intrepid FPSO. This system is designed to improve the FPSOs ability to maintain station and reduce the frequency of occurrences that the M&RS is laid down, when weather conditions are unfavourable.
The Rubicon Intrepid is expected to resume production in early / mid February, again subject to weather conditions."....

[trader10]

Ward Ferry accumulation....at around 0.06569

10,525,430 shares for AUD$691,466.45......

Good levels 0.065.....

Bring the onlines and other updates now :))

[trader10]

Up to 16/02/2009

HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED (A/c 2) + 12.858.371

J P MORGAN NOMINEES AUSTRALIA LIMITED - 5.081.619

HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED - 21.495.121

ANZ NOMINEES LIMITED - 8.748.276

ESCOT FINANCE LTD + 8.500.000

NEFCO NOMINEES PTY LTD + 82.847

CITICORP NOMINEES PTY LIMITED - 442.004

HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED-GSCO ECA - 787.545

L WHITBY No change on hlds

NATIONAL NOMINEES LIMITED - 6.339.434

H MCFARLANE MARTIN No change on hlds

W D GOODFELLOW No change on hlds

YANDAL INVESTMENTS PTY LTD No change on hlds

J M MORAZA & A MORAZA + 4.870

BOOM SECURITIES (HK) LTD + 2.048.464

TWYNAM AGRICULTURAL GROUP PTY LTD No change on hlds

MERRILL LYNCH (AUSTRALIA) NOMINEES PTY LIMITED + 305.501

BREMERTON PTY LTD No change on hlds

B J QUAIFE No change on hlds

MESSARA INVESTMENTS PTY LTD No change on hlds

[shasta]

Up to 16/02/2009

HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED (A/c 2) + 12.858.371

J P MORGAN NOMINEES AUSTRALIA LIMITED - 5.081.619

HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED - 21.495.121

ANZ NOMINEES LIMITED - 8.748.276

ESCOT FINANCE LTD + 8.500.000

NEFCO NOMINEES PTY LTD + 82.847

CITICORP NOMINEES PTY LIMITED - 442.004

HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED-GSCO ECA - 787.545

L WHITBY No change on hlds

NATIONAL NOMINEES LIMITED - 6.339.434

H MCFARLANE MARTIN No change on hlds

W D GOODFELLOW No change on hlds

YANDAL INVESTMENTS PTY LTD No change on hlds

J M MORAZA & A MORAZA + 4.870

BOOM SECURITIES (HK) LTD + 2.048.464

TWYNAM AGRICULTURAL GROUP PTY LTD No change on hlds

MERRILL LYNCH (AUSTRALIA) NOMINEES PTY LIMITED + 305.501

BREMERTON PTY LTD No change on hlds

B J QUAIFE No change on hlds

MESSARA INVESTMENTS PTY LTD No change on hlds

T10

Whats behind your interest in NDO?

Galoc has been besieged with problems, delays, flow rates etc (ah la AED).

Plenty of better prospects in the O&G game that are "cheap".

I'd be looking more at NZO, ROC, BPT...

[trader10]

Hi Shasta,

Good question :)

Well, firstly, I see value here as Nido has an good acreage North West Palawan Basin in Philo and has great potential if things goes their way....

Second, as PRODUCERS, developers and explores, it's only a matter of time for this company to start rising on their reserves and bringing value to shareholders.

Thirdly, management. Yes, extremely important. I like Jocot...... he's an interesting person and have very good contacts in Philo ( VERY IMPORTANT!)

Asian are seen value here to.....interesting accumulation via Ward F.......


I do like BPT, but I do not consider them as junior and undervalue as Nido.....just IMO.... ROC has been dropping a lot lately.....the lowest in one year today at 0.365.....

I like PPP also..... would pick up some if they drop to 25c.....

And you Shasta, what do you see in Nido ?

cheers

[Crypto Crude]

shasta-T10

Whats behind your interest in NDO?

Galoc has been besieged with problems, delays, flow rates etc (ah la AED).

Plenty of better prospects in the O&G game that are "cheap".

I'd be looking more at NZO, ROC, BPT...


Shasta,
are you a hypocrite?
what are you on about...
you were bullish on OEL and Galoc for a long time, and bullish less than a month ago...
we should be asking you the same questions...

http://www.sharetrader.co.nz/showthread.php?t=5328&highlight=oel&page=25
:cool:
.^sc

[AMR]

Shasta,
are you a hypocrite?
what are you on about...
you were bullish on OEL and Galoc for a long time, and bullish less than a month ago...
we should be asking you the same questions...

http://www.sharetrader.co.nz/showthread.php?t=5328&highlight=oel&page=25
:cool:
.^sc

Because the fundamentals changed. Galoc's acqusition price is now comparatively expensive (purchased when oil was $60 a barrel) and they have had endless delays with startup.

Then again, the technicals changed too. I have a chart of OEL on my bedroom warning me not to fall in love.

[shasta]

Shasta,
are you a hypocrite?
what are you on about...
you were bullish on OEL and Galoc for a long time, and bullish less than a month ago...
we should be asking you the same questions...

http://www.sharetrader.co.nz/showthread.php?t=5328&highlight=oel&page=25
:cool:
.^sc

NDO & OEL are two different companies Shrewd, but are in the same area.

NDO is known to be "manipulated" & shorted.

I've also had UU accuse me of being bullish re OEL. :confused:

I stated when i got in 32c & when i got out 48c! (If anyone follows me into a stock, surely they should exit when i do?)

I told everyone at the time any delays, problems & OEL would drop.

OEL have gas assets in Turkey (with IPM) which will be monetised this year.

I still like OEL, just chartwise no, & until Galoc debt is paid & OEL receives monthly dividends (ex GPC revenue), im not a fan.

Nope, not a hypocrite, just telling it as it is :cool:

Santa Rosa is a cheap drill program with huge potential, & thats what i like about OEL, it's potential (probably in the same way you see CUE's potential aye!)

Surely you don't want me to disclaim everything i say with DYOR?

[Crypto Crude]

shasta-
1)NDO & OEL are two different companies Shrewd, but are in the same area.

2)NDO is known to be "manipulated" & shorted.

1)two different compaies eah....?
they look identical to me...
Below I have attached two charts side by side...
The first one is for 6 months...
The second chart is monthy for 3 years...
NDO and OEL share the same major project, hence they look remarkably the same...



http://hfgapps.hubb.com/asxtools/imageChart.axd?s=ndo&pi=Stock&ct=3&tf=D6&ovs=oel&si=Stock&tima1



http://hfgapps.hubb.com/asxtools/imageChart.axd?s=ndo&pi=Stock&ct=3&tf=M3&ovs=oel&si=Stock&tima1

2) as for a response under quote 2)... does that also make OEL 'manipulated and shorted' given the fact that both are identical?
:cool:
.^sc

[shasta]

1)two different compaies eah....?
they look identical to me...
Below I have attached two charts side by side...
The first one is for 6 months...
The second chart is monthy for 3 years...
NDO and OEL share the same major project, hence they look remarkably the same...



http://hfgapps.hubb.com/asxtools/imageChart.axd?s=ndo&pi=Stock&ct=3&tf=D6&ovs=oel&si=Stock&tima1



http://hfgapps.hubb.com/asxtools/imageChart.axd?s=ndo&pi=Stock&ct=3&tf=M3&ovs=oel&si=Stock&tima1

2) as for a response under quote 2)... does that also make OEL 'manipulated and shorted' given the fact that both are identical?
:cool:
.^sc

I'd imagine alot of stocks on the ASX look like those graphs... :confused:

AMR said it best, things have changed...

What point would TA have got someone out?

[trader10]

Dear Shasta and Shrewd,

Let's not fight over this thread and company.I'm sure we can use your both brilliant minds to get into the interesting stuff that is to making money and making the right decisions at the right windows of opportunity.....

Look, That's how I see the announcement today :


I can say that I am satisfied with the announcement even thou delay is part of our Galoc development.

The operator GPC unfortunately had a bit of bad luck with the weather and might not be the fastest in the game but, we are on track and being carefully to get this new repairs and installation to a point that we will not need to stop production due to another disruption but, only need maintanance of the mooring, riser system and HBMS.

The positive part is IMHO that when the news came out.....clearly on my platform I could see immediately panickers coming up and preparing to sell on the delay.

Amazingly was to see OEL get sold $0.0980 $-0.0020 -2.0% even thou at low volume but not showing signs of confidence from small medium or large investors.

On the other hand, NIDO was a good stock to look today.....especially with our All Ords at 3353.00 -45.00 (-1.32%).

Nido had also signs and a taste of panickers and opportunists..... The part I most liked was to see this bunch being mopped it up by confident and value seeker investors.... mind you, one of them was me.... LOL

At one stage at 0.065....when many thought it was all gone, we were back to green just to finish at a healthy 1.5% up. ;)

$0.0660 $0.0010 1.5% 0.0680 0.0690 2,353,086

Now with more asian investors thru Ward Ferry at the lastest purchase of more than 10 million shares at an average of 0.06569, I see 0.065c as our new support level even thou still fragile but, so resiliant at today's trading....

I see value and like the story. The nutshell for many may be ( a cheap PRODUCER, developer and explorer), with great potential on various projects and a management that is commited and determined to get the company to better levels..... and they have contacts ! ;)

Tapis prices still at 46.86 and light crude at 38.75 right now..... once our crude oil manipulation story gets on track we might just see companies like Nido capitalise in a big way as demand is stripping the supply and peak oil is here.....

Good luck to all believers..... GO NIDO ! ;)

[Phaedrus]

When would TA have got someone out?
Good question, Shasta.
Answer :- May 2008.

Here's a better question, though.
"When would TA have got someone in?"
Answer :- It wouldn't have. TA has not yet signaled an entry into the current ongoing downtrends of either NDO or OEL.

The two virtually identical charts shown here feature the same indicators with the same parameters. Sell signals are marked by red arrows. Buy signals are marked by green arrows.

T10 claims that NDO is being accumulated. It is not. We can tell by the falling OBV that NDO is still being distributed.

http://h1.ripway.com/78963/NDOEL221.gif

[shasta]

Good question, Shasta.
Answer :- May 2008.

Here's a better question, though.
"When would TA have got someone in?"
Answer :- It wouldn't have. TA has not yet signaled an entry into the current ongoing downtrends of either NDO or OEL.

The two virtually identical charts shown here feature the same indicators with the same parameters. Sell signals are marked by red arrows. Buy signals are marked by green arrows.

T10 claims that NDO is being accumulated. It is not. We can tell by the falling OBV that NDO is still being distributed.

http://h1.ripway.com/78963/NDOEL221.gif

Thanks Phaedrus.

Appreciate the charts & commentary.

Of course we are only seeing the down fall of OEL in this example, not the mapping of my buy at 32c & sale at 48c.

I got out near the top, so it seems ;)

[Crypto Crude]

Trader,
we are not Fighting... we are having a discussion...
I was just pointing out that shasta was having ago at NDO when he was bullish on OEL For as long as I know, and last bullish one month ago...
I Find it quite bemusing considering the Fact that the two stocks are identical


shasta-
1)I told everyone at the time any delays, problems & OEL would drop.

2)I still like OEL, just chartwise no, & until Galoc debt is paid & OEL receives monthly dividends (ex GPC revenue), im not a fan.

3)Santa Rosa is a cheap drill program with huge potential, & thats what i like about OEL, it's potential (probably in the same way you see CUE's potential aye!)

5)I'd imagine alot of stocks on the ASX look like those graphs... :confused:

6)I stated when i got in 32c & when i got out 48c! (If anyone follows me into a stock, surely they should exit when i do?)


1) well that did not stop you From remaining bullish
2) really?
3) not really, I look For low risk production... and then ramp other activities oFF that... throw in a well here or there For little downside...
ie a hedge... on this occasion the markets have messed with that natural hedge
5) I agree... many stock graphs do look like that... BUT I cant think oF any quality oilers that have Fallen 85-90% oFF their peaks...
BCC might be one...
6) It doesnt matter what you do, it only matters what you say...
People cant exit with you, because you have pulled your Disclosure list and previous positions you held vanished into thin air...

People Dont invest in stocks on others entry and exit prices...
they may get in and out based on what others actually say...
I think you miss that point...
:cool:
.^sc

[shasta]

Trader,
we are not Fighting... we are having a discussion...
I was just pointing out that shasta was having ago at NDO when he was bullish on OEL For as long as I know, and last bullish one month ago...
I Find it quite bemusing considering the Fact that the two stocks are identical



1) well that did not stop you From remaining bullish
2) really?
3) not really, I look For low risk production... and then ramp other activities oFF that... throw in a well here or there For little downside...
ie a hedge... on this occasion the markets have messed with that natural hedge
5) I agree... many stock graphs do look like that... BUT I cant think oF any quality oilers that have Fallen 85-90% oFF their peaks...
BCC might be one...
6) It doesnt matter what you do, it only matters what you say...
People cant exit with you, because you have pulled your Disclosure list and previous positions you held vanished into thin air...

People Dont invest in stocks on others entry and exit prices...
they may get in and out based on what others actually say...
I think you miss that point...
:cool:
.^sc

Im flattered to think any one reading my posts, actually takes it onboard.

Following any poster "blindly" can only end in tears :(

[trader10]

Repair work on Galoc oil field still ongoing

Monday, 23 February 2009 01:14

OIL production on the Galoc oil field in offshore Palawan is expected to resume soon with the completion of some repair work being undertaken on the mooring and riser system attached to the floating production storage and offloading facility (FPSO).

In a statement, Galoc Production Co. (GPC) said repair and improvement works are being undertaken on the mooring and rise system.

GPC said improvements on the mooring and riser system are being undertaken to minimize disconnection from the FPSO.

“Hopefully, repair and improvements would be completed in the first week of March for oil production to resume as well,” GPC said.

GPC said additional mooring lines to be connected to the FPSO stern is progressing with the first system installed and hook-up to the FPSO ongoing.

Once completed, according to GPC, change out of the riser sections will also be undertaken.

GPC said the weather remains favorable for the completion of the reinstatement activities.

GPC earlier said production from the Galoc oil field is expected to be resumed before the end of the month. This is what GPC assured after it announced that the mooring and riser system to the FPSO facility has been disconnected and laid on the sea floor.

GPC said the resumption of production would also be subject to weather conditions.

GPC earlier said a combination of events, including adverse weather conditions in December last year, caused the disconnection of the mooring and riser system from the FPSO.

GPC added that the disconnection is a standard operating practice for this mooring arrangement in such weather conditions.

“However, the disconnection of the FPSO would have no impact on production targets in terms of volumes,” Galoc officials earlier told the BusinessMirror, adding that it would only result in production delay.

They also said the disconnection would also have no impact on their income targets for the year. “It [disconnection] would have an impact on our targets should the delay takes some time and world oil prices drop significantly,” the officials added.

Galoc crude’s price is pegged on world oil prices. “The price of the Galoc crude is based on world oil prices at the time it is made available,” they explained.

According to the Department of Energy, the Galoc oil field is expected to produce an average of 17,000 barrels to 20,000 barrels of crude oil daily, or about 6 percent of the country’s 300,000-barrel daily requirement.

Exploration results show that the Galoc field has reserves containing 10 million to 20 million barrels, subject to further studies and exploration that can possibly result in additional yield.

Galoc has been producing 15,000 barrels per day for the past 20 days, including approximately one week of commissioning and production testing. The next oil cargo is expected to be shipped out late this month.

[trader10]

NDO 11:42 AM Presentation to Asia Independents Forum

Interesting times ahead :)

[trader10]

Nido is doing it's thing ;) nicely...

NDO 0.088 0.089 0.088 +0.015 +20.55% 0.079 0.088 0.079 5,487,911 137 456,525

Galoc Production Resumes

Nido Petroleum Limited (Nido) is pleased to advised that production at the Galoc oil field
recommenced last night at 21:30 hours local time on 25 February 2009.

The Galoc oil field Operator, the Galoc Production Company WLL (GPC), has confirmed that
all enhancements and repairs to the mooring and riser system have been completed
successfully.

GPC also confirmed that oil production at the facility has resumed and, as per the start-up plan, will be increased steadily to pre-shutdown rates of around 13,000-15,000 barrels of oil per day.

Ms Joanne Williams, Nido’s Deputy Managing Director, said “We are very pleased to see the
resumption of production from the field. Whilst this downtime has been very frustrating for
us all, the installation of the hold back mooring to the FPSO’s stern should immediately
improve the station-keeping performance at the FPSO.”

Nido’s President and CEO, Mr Jocot de Dios added, “Given the resumption of production,
Nido will continue working with the Operator and the joint venture to ensure continued and
consistent production through the rest of the year, especially during the typhoon season.”
Nido will continue to provide updates to the market on Galoc production on an exception
basis and will report production data in its quarterly reports.

Galoc Field – Re-commencement of Production

GPC is pleased to confirm that production from the Galoc Field was resumed at
approximately 21:30 hours Manila time this evening 25th February 2009.

During the shutdown extensive work was undertaken on both re-instating the
FPSO Contractor’s Mooring and Riser System (M&RS) and implementation of
enhancements to ensure improved future performance and station-keeping.

These enhancements include installation of a secondary mooring arrangement
connected to the FPSO stern, referred to as the Hold Back Mooring System
(HBMS), and substantial modifications to the primary M&RS which included the
redesign of critical attachments, installation of additional buoyancy to facilitate
lay-down following disconnection and revision of the associated procedures.

These enhancements are the product of considerable collaborative design effort
between the field Operator (GPC) and the FPSO Contractor (Rubicon Offshore
International), who is responsible for the provision and operation of the FPSO and
associated M&RS. This collaborative effort is ongoing with evaluation of other
potential enhancements to the system.

GPC is confident that the re-instatement and enhancements implemented to date
will increase the station-keeping capability of the FPSO and enable safe and
reliable disconnection in the event of adverse weather.

:wink: :D

[Crypto Crude]

good jump for you today trader 10...
great news
:cool:
.^sc

[trader10]

G'day Shrewd,

I was tempted to take some profits but my DYOR on their fundamentals told me to hold it for the future ;)

Great run for sure........ don't like that gap formed but hope for a 8c support ......see how it all shapes...... Crude was 6% up overnight....helped Nido too.....

Should be interesting to see the next trading days ahead....

US GDP on friday...... should be interesting.

cheers

[trader10]

Another 20% rise....LOL )

NDO 0.100 0.105 0.105 +0.018 20.69 0.099 0.105 0.094 3,979,803 81 391,712

[ELYOB]

Forget it ...........going nowhwere ......dont fool yuselv?

[soulman]

Wow, your statement almost seem foolish ELYOB.

I was looking to enter NDO, missed the opportunity but appreciate the TA side of trading.

Today must be a hit and run for the traders? or holding for another few cents next week.

[trader10]

Hi everyone....long time no see.... hehehehehe


Nido is doing just what suppose to do....go back to better levels as it has the goods and cash flows are flowing now )) more news will come soon and I hope it to break 15 cents clean in a near future.... very satisfied with the management on this company....

Interesting times ahead

[trader10]

Today I've added more to my core at 10.5c and at close 10c...... games at auction time is always lovely...even thou you might ended up scooping a small parcel.....

Looking forward to more news in a near future.....

And Joanne.... nah I'm not worried that she as a director sold some stocks.....she still have plenty......... she will get some nice goodies with her takings me thinks

This stock should take off after July if improvements on the Oil prices continue.... I like it.

Good luck all

[mattyroo]

Anybody sill holding NDO?

I bought a swag recently at 13c as I felt it was undervalued, especially with the forward drilling plan they have.

Has had an excellent rise over the last few trading days, due to a significant discovery by XOM nearby to where NDO is drilling very shortly. And with FID of Tindalo due imminently am expecting more to come.

Looking good for the next few months in my opinion.

[boysy]

should be plenty of action in the next few months from NDO

-Reserve reassessment of galoc
-Update on tindalo
-Galoc phase 2 go ahead
-hopefully a bit of farm out activity

Bring on tindalo hopefully it flows as expected though i see the drilling rig can handle up to 20,000 bopd . If tindalo is a success they have every reason to try other targets nearby which will hopefully now be known from previous 3d seismic surveys

[boysy]

A presentation out by kik singing the praises of sc54a the ndo sp has been under a bit of pressure lately may be a good time to top up as it should get a rerate if everything goes to plan at tindalo and there on.

http://www.stocknessmonster.com/news-item?S=KIK&E=ASX&N=480626

[shasta]

A presentation out by kik singing the praises of sc54a the ndo sp has been under a bit of pressure lately may be a good time to top up as it should get a rerate if everything goes to plan at tindalo and there on.

http://www.stocknessmonster.com/news-item?S=KIK&E=ASX&N=480626

Boysy

I should have posted the link into here as well, Cheers for doing that ;)

NDO with ~3,000 bopd production already from Galoc, looks set to double this (with Tindalo) or best case triple production closer to ~10,000 bopd.

This would seriously re-rate the stock

Am watching NDO & KIK closely (as well as OEL of course), as these 3 companies have a big chunk of the permits around the Phillipines.

Would NDO likely take out KIK, given Tindalo will enable them the funds to do so?

[boysy]

thats an interesting take i guess it all depends on how well tindalo flows. I guess you have to take sc 54b into account im not sure ndo would want 85% of costs though 85% of sc 54a based on kik presentation could yield alot of money for both parties though they are both running there cash flow situation a bit fine kik more so than ndo. Ndo is certainly looking under priced if sc 54a comes all good for all parties

[boysy]

interesting that this one is staying put at current levels. KIK up i guess excitement from the presetation from yesterday still looking undervalued i guess tindalo will either wake the market up or prove the current sp is right for the way the company is run. Interesting few months ahead thats for sure.

[h2so4]

interesting that this one is staying put at current levels. KIK up i guess excitement from the presetation from yesterday still looking undervalued i guess tindalo will either wake the market up or prove the current sp is right for the way the company is run. Interesting few months ahead thats for sure.

Yes indeed, KIK does look undervalued. But then so does NDO given the looming cash flow from Tindalo. I'm surprised no announcement was made by NDO. :confused:

[boysy]

yes it does seem odd that kik would release and announcement which says some pritty important news and not a peep from ndo. I guess we will all know soon enough with drilling less than 8 weeks away one would think of a bit of sp action between now and then.

[boysy]

getting cheaper by the day it seems will be interesting to see how things pan out in the next wee while down to 13.5 might have to look at getting a few more this week with poo up last week and the sp heading south things dont seem to be adding up. Drilling likely to get underway in less than 2 months so expect some big announcements in the next few weeks its looking like ndo could soon have a market cap less than oel at this rate lol

[shasta]

getting cheaper by the day it seems will be interesting to see how things pan out in the next wee while down to 13.5 might have to look at getting a few more this week with poo up last week and the sp heading south things dont seem to be adding up. Drilling likely to get underway in less than 2 months so expect some big announcements in the next few weeks its looking like ndo could soon have a market cap less than oel at this rate lol

Boysy

The market can be very harsh for no reason, or just plain stupid. :rolleyes:

But i'm guessing the fact that NDO was even involved with Galoc, has the market nervous about Tindalo, especially as NDO is the operator & has a 50% stake.

Now i doubt anyone could stuff up worse than GPC did with Galoc, (AED with the Puffin field comes close!).

Once the flow rates are maintained & production is online the market will re-rate NDO significantly IMHO (& KIK with 35% interest), elevating NDO into the mid tier O&G companies behind the likes of BPT.

Any delays, cost over runs, flow rate disappointments etc, & the market will tear the NDO share price apart, like it did to OEL.

[boysy]

yep i absolutely agree with you that any delays will be treated just the same as the GPC fiasco . Will be interesting if tindalo flows trouble free as it looks like at the current sp very little is expected from ndo in the short term. I clearly have a vested interest in hoping ndo can for once and all set itself apart from the GPC stuff ups. Big call but if they achieve what they set out to do they should be receive a significant rerate

[shasta]

yep i absolutely agree with you that any delays will be treated just the same as the GPC fiasco . Will be interesting if tindalo flows trouble free as it looks like at the current sp very little is expected from ndo in the short term. I clearly have a vested interest in hoping ndo can for once and all set itself apart from the GPC stuff ups. Big call but if they achieve what they set out to do they should be receive a significant rerate

With the PoO increasing from $US70 - 80/bbl & Tindalo imminent, you would have thought the share price would have crept up a little.

You'd have to say the market is factoring in NO good news re Tindalo at all, nor is it taking into account the fact NDO is already a producer.

Using the mid point of anticipated daily production from Tindalo, it will TREBLE NDO's current oil production.

Not too many O&G stocks have that upside in the short term!

[boysy]

yep if tindalo flows at the top end of forecast then ndo should almost be getting 10,000 bopd net clearly dropping as production continues but it as you mention at the current sp i believe none of this is factored in. I mean they are a producer of 2000 odd bopd currently with plenty of blue sky potential with sc54B in the wings and an active drilling program likely in SC54A if tindalo and yakal come in the goods they have plenty more prospects to go after and possibly produce multiple discoveries from an fpso. Its almost getting to the stage where NDO is cheaper to get leverage of possible success in SC54A than KIK and NDO is already a significant producer with more cash ill certainly be looking to snap a few more up this week for the right price.

[boysy]

ok so we have some news relating to the fso finally

http://www.stocknessmonster.com/news-item?S=NDO&E=ASX&N=481669

[boysy]

unloved at this moment in time though the next few months could be very telling indeed i continue to buy at these levels just based on what they plan to get up to in the next few months it looks like a screaming buy but not for those with faint hearts will be interesting to see what happens when the big seller is gone thats for sure bring on tindalo and yakal and nido and then gindara it will be a very interesting 2010 thats for sure.

[mattyroo]

unloved at this moment in time though the next few months could be very telling indeed i continue to buy at these levels just based on what they plan to get up to in the next few months it looks like a screaming buy but not for those with faint hearts will be interesting to see what happens when the big seller is gone thats for sure bring on tindalo and yakal and nido and then gindara it will be a very interesting 2010 thats for sure.

Boysy, I very much agree, that it is going to be an interesting 2010. Also, that this stock is not for the faint hearted, I've bought another couple of hundred k over the couple of weeks, holding at an average of 13 now. But my finger is going to be very close to the sell trigger through Tindalo development. It won't take much to go wrong here and spook the market, on the other hand if all goes smoothly, a sigificant re-rate is in order.

Then there is Gindarra drilling, which is the company maker if they hit pay.....

[boysy]

yep still plenty of risks here but plenty of blue sky potential and thats not factoring in gindara.

[boysy]

further farm out of sc54a wonder what the terms are will be very interesting indeed

[boysy]

starting to look the goods today up to 14 5.2 million shares changed hands already will be interesting to see how it closes today and if any games will be played.

[boysy]

new presentation out by the new partner TG World not much new info but a good summary no less

http://www.tgworldenergy.com/Resources/2009pdfs/TG_Presentation.pdf

[boysy]

Economics of Tindalo looking better and better with the price of oil firming. IF tindalo comes in at the upper ends of expectations then it should be a very profitable for all parties involved. currently the cost of the rig and associated services is around 250k a day or around 3000 bopd at the current prices that leaves between 2,000-12,000 bopd if it flows between 5-15k bopd .

low expectation = 2000 * $80 *.425 = $68,000 profit a day
high expectation = 12000 * 80 *.425 = $408,000 profit a day

Even if it produces at the lower level of expectations this will still be a profitable excersie lets just hope it flows at the higher end it should take only between 20-25 days to pay back nidos share of the $20 mill capex. From there on out thats profit untill we hit the 1 million barrels or 100 days whatever comes first. Will be interesting to see how it plays out in the market they say it should produce anywhere between 2-18 months it could provide a significant source of additional cashflow other than galoc. Then theres all the rest of the prospects but first we must get tindalo flowing .

[boysy]

nice pop yesterday on huge volume up 15% to 16 cents on over 13 million shares traded. Must be the end of oppenheimer selling as they could of oflaoded many shares and depressed the price yesterday.

[Corporate]

I hope so because I bought in at close last night ;-)

[boysy]

something certainly seems to have changed lets hope the momentum continues into today with drilling a few weeks away it should create a bit more excitement and then there will be the important flow rate results. They expect tindalo to flow between 7-15 kbopd it needs around 3-4 k to break even wil be interesting how things pan out in the next few weeks you have to ask why would oppenheimer sell out so close to the drill we will c in a few weeks who was smart.

[boysy]

interesting next few weeks ahead with some good flow data this one could run ery hard in the next few weeks. if it flows well the economics of the project look great lets say 10,000 bopd at $80 barrel then thats (10,000*$80*42.4%) = $340,000 net to ndo each day less nidos share of day rate around 100k = $240,000 net at this rate nidos share of capex could be paid off in a little over a month. Lets just hope the flow rate is closer to 15,000 bopd

[boysy]

touched 17 cents today ended on 16.5 cents lets hope we get a rig announcement anyday and the sp should rise as the drill bit gets to work

[Corporate]

touched 17 cents today ended on 16.5 cents lets hope we get a rig announcement anyday and the sp should rise as the drill bit gets to work

Touched 17c a couple of times :-) I'm looking forward to NDO shooting up to 20c+

[boysy]

its been up to the 19 cent level bt has falle back to the 12-14 cent range so im not expecting too much fireworks in the short term. Perhaps if some insos start buying in this will create some momentum to breach the 20 cent mark or some good flow rates

[boysy]

rig on its way to tindalo this should generate a bit of excitement

http://www.stocknessmonster.com/news-item?S=NDO&E=ASX&N=488241

[shasta]

rig on its way to tindalo this should generate a bit of excitement

http://www.stocknessmonster.com/news-item?S=NDO&E=ASX&N=488241

NDO - Rig Onsite

http://www.stocknessmonster.com/news-item?S=KIK&E=ASX&N=489649

Boysy - should provide a wee nudge & we both could be in the prizes at Sharescene!

[boysy]

well shasta by the end of this week early next week we should get some indication as oil should be flowing out of tindalo those flow rates will determine if tindalo was a success or failure hopefully it produces above or near the top of expectations being 7000-15000 bopd and maintains similar rates over the life of the well.

[boysy]

should hear some info about first oil by monday one would think hopefully a good flow rate can help prop the price

[shasta]

should hear some info about first oil by monday one would think hopefully a good flow rate can help prop the price

Depends if Portugal & Spain sh*t there pants it wont matter if oil spikes up $20/bbl in a day...

Alot of fear returning to the markets & todays episode with the DOW (especially on a Friday) wont help anyone announcing anything good, plus the PoO has dropped off around 10% this week

[boysy]

at the same time the usd has strenghend somewhat so i think a fall in price is partially ofset by fall in $A. will be interesting if T1 will infact be a success they have an awful lot riding on its shoulders hopefully if it runs smoothly then the emphasis will go to galoc phase #2

[boysy]

We should get some sort of ann out today or early this week about tindalo hopefully some good flow rates are being achieved

[boysy]

could do with an update anyday now couldnt we it would be nice if they could release an update the fso should well and truly be on site now looks as though this could be an ominous sign lets hope this isnt a galoc all over again. Also from OEls release this morning significant uptime achieved so far this quarter and Opex costs have fallen from $25 to $17 a barrel and last cargo sold at US$86 so they timed it just right galoc now producing ~9200 bopd ( ~2000 bopd net to NDO)

[boysy]

still no ann from tindalo one would think if they were experiencing problems they would have to report them to market

[boysy]

ann out still a wee way to go before first oil though http://www.asx.com.au/asxpdf/20100514/pdf/31qbrsttz1nzc0.pdf

[boysy]

Tindalo oil production up
by Alena Mae S. Flores

Nido Petroleum Ltd. of Australia said it is on track to deliver first oil from the Tindalo oil field in northwest Palawan anytime this month.

Nido disclosed to the Australian Stock Exchange that the jack-up rig “Aquamarine Driller’’ was finishing preparations for the commercial production of Tindalo-1 well.

http://www.manilastandardtoday.com/insideBusiness.htm?f=2010/may/17/business1.isx&d=2010/may/17

“Nido will provide further updates on the progress of the project upon the achievement of major milestones, with the next milestone expected to be when oil is first brought to surface,” Nido deputy managing director Joanne Williams said.

Undersecretary Ramon Oca earlier said the consortium was hoping first oil from the Tindalo field to come in this month “if there are no hitches in the drilling.”

Nido, operator of service contract 54A, which covers the Tindalo field, owns a 42.4 percent of the Tindalo exploration block. Kairiki Energy Ltd., another Australian company, holds 30.1 percent while Trafigura Ventures III BV, one of the largest independent trading commodities firms, owns 15 percent. TG World Corp. holds 12.5 percent.

Nido expects the Tindalo oil field to produce oil at a rate of 7,000 to 15,000 barrels of oil per day. The company has earmarked $20 million to bring the first well into production.

The Tindalo oil field is estimated to contain reserves of about 5.1 million barrels.

Nido said the floating, storage and offloading vessel, called M/T Tove Knutsen, had arrived and that it successfully conducted trial operations, including the use of a linked telemetry system installed on the rig.

M/T Tove Knutsen is a double-hulled oil tanker with a capacity to store over 600,000 barrels of oil.

Nido said it had loaded and assembled the production processing equipment on the rig. It added that it would complete a work program prior to the production testing of Tindalo-1 field.

Nido discovered oil in the Tindalo-1 exploration well in October 2008, before plugging the hole for future production.

Nido is an oil and gas exploration and production company with over 29,450 square kilometers of exploration and development assets in the northwest Palawan basin.

It has interests in SC 54-B (60 percent), SC 58 (50 percent) and SC 63 (50 percent).

Nido’s core producing asset to date is the Galoc oil field, where it has a 22.879- percent interest. Galoc lies within SC 14 in 300 meters of water, some 60 km off Palawan. It started oil production in October 2008.

[boysy]

very interesting ann out at the agm

http://www.asx.com.au/asxpdf/20100521/pdf/31qgfhx5f5w4y0.pdf

announcing 5 well drilling campaign over the next 18 months a very in depth presentation

if everything goes to plan the 5 well drilling campaign could be worth over $4.00 a share

[Corporate]

yeah huge, ndo is one of those stocks that makes me want to go all in for the long term. The board members all have impressive backgrounds and contacts.

[boysy]

they just need to show sh that they can finish the job like the 43% cos for gindara lets hope this presentation will help open a few eyes i think now more than ever we wil need good results from tindalo to help fund the planned exploration of 5 wells over the next 18 months. they have spent 160m on siesmic related activities lets hope some farm in come along and help pay some of those back costs.

[boysy]

looks like the presentation is trying to flush out potential farm in partners for sc 54b the drilling of gindara. One would think with a POS 43% then NDO must be demanding too much from potential farm in partners for them to actually farm in. Personally i think it is imperative for NDO to farm out some interest i would rather they give up some potential upside than having to fund 60% themselves. Based on the presentation they are looking to retain 35% equity in sc 54b that would indicate kik would farm down fro 40% to say 25% so a farm in partner would get 40% wonder what they are expecting to get in return for farming out 40 odd %

[boysy]

big volumes going through sp up 10% for the day already it looks as though oppenhiemer is done with the selling the buy side is looking very soldi as well some 7.4 million shares traded hands so far perhaps we should expect an update soon then ?

[boysy]

http://www.manilastandardtoday.com/insideBusiness.htm?f=2010/may/27/business3.isx&d=2010/may/27

Tindalo to flow first oil this week
by Alena Mae S. Flores

Nido Petroleum Ltd. of Australia is optimistic of drawing first oil from the Tindalo oil field in northwest Palawan in the next few days, a ranking government official said Wednesday.

Energy Undersecretary Ramon Oca said Nido was expecting first oil to flow from the Tindalo field from service contract 54-A Tuesday night but the company encountered technical problems.

“There was some technical concerns, most probably [first oil] will be this weekend or next week,” Oca said.

The official said the Tindalo well would be subjected to a series of tests after drawing first oil before putting the well into commercial production.

Nido, operator of service contract 54-A, which contains the Tindalo field, owns 42.4 percent of the exploration block. Kairiki Energy Ltd., another Australian company, holds 30.1 percent while Trafigura Ventures III BV, one of the largest independent commodity trading firms, owns 15 percent. TG World Corp. owns 12.5 percent.

Nido expects the Tindalo oil field to produce oil at a rate of 7,000 to 15,000 barrels per day. The company allotted $20 million to bring the first well into production.

The Tindalo field has likely recoverable oil volumes of 5.1 million barrels.

The Tindalo oil field was discovered in October 2008 and temporarily plugged for future production.

Nido earlier contracted the jack-up rig “Aquamarine Driller” and the floating, storage and offloading vessel called M/T Tove Knutsen, which has a capacity to store over 600,000 barrels of oil, to bring Tindalo into production.

Nido is an oil and gas exploration and production company with over 29,450 square kilometers of contiguous exploration and development assets in the northwest Palawan basin.

Nido’s core producing asset to date is the Galoc oil field, where it has a 22.879-percent interest. The Galoc field, which lies within SC 14 in 300 meters of water, some 60 km offshore Palawan, started oil production in October 2008. The Galoc field has produced more than four million barrels of oil to date.


Top

[boysy]

an update just recived from emailing nido aparently no issues and still on tract to begin flow testing before the end of may lets just hope those flow rates exceed expectations there certainly is alot riding on the success of t1

[boysy]

a new improved website up nd running at

www.nido.com.au

[boysy]

Oil flowing from tindalo next ann out should be the all important flow rates

http://www.asx.com.au/asxpdf/20100531/pdf/31qlpmtpg29ttf.pdf

[boysy]

up 10 % to 17 today starting to fly

[boysy]

closed just off the daily high of 17.0 with over 21 million shares traded will be interesting if the momentum can continue tomorrow quite interesting to note kik didnt move today at all. I put this fact down to NDO being oversold by the major player wanting to exit that the first oil ann was a catalyst for the money on the sidelines to move into NDO once more. Now we just have to wait for those flow rates to be published

[boysy]

0.165 -0.005 0.165 0.170 0.175 0.175 0.165 83,318,573 some 74 million shares xtos after market

[boysy]

finished at 18.5 things starting to look good now all we need is a good flow rate

[boysy]

morgan stanley having bought out ward ferry now they have 11.31% or 118,863,357 shares they have become the largest holder on nido now wonder if they will continue to buy and up to what point

[boysy]

The 19.5 line taken out today already buy sell ration over 2:1 now an interesting story unfolding wonder whos doing all the buying

[boysy]

in pre opening due to trading halt seems bizzare they wouldnt put in a trading halt if it was just to do with tindalo flow rates kik also in trading halt possible sc 54b farm out ?

[mattyroo]

in pre opening due to trading halt seems bizzare they wouldnt put in a trading halt if it was just to do with tindalo flow rates kik also in trading halt possible sc 54b farm out ?

I reckon it is to do with announcement of farmout of Gindarra. Bit of a bugger, as I sold half my holding this morning. ~45% gain on my average buy price, so not too bad, considering my first buy was at 18 cents about 50 weeks ago!! I bought strongly each time it touched 12.5. Sometimes this averaging down does work! But an 8% return on the first buy is not wonderful considering the few heart-in-mouth moments this stock has given me over the last 12 months.

I have also traded in and out of these at times through the last 4 months, there is enough volume, if you don't mind handing on to them for a day or two.

[boysy]

Well it is to do with tindalo there mattyroo we should get flow rates before tuesday you have to wonder what sort of rates the market will expect at these prices

[boysy]

Those boys over on hotcopper sure know how to ramp the hell out of certain stocks. People mentioning 20,000 bopd flow rates id be happy if flow rates were round the 10,000 bopd mark though im not sure we will even get this. The project will need to hit around 5000 bopd to be cost neutral i guess the major thing is how the flow rates will hold out over the course of the EWT

[mattyroo]

Those boys over on hotcopper sure know how to ramp the hell out of certain stocks. People mentioning 20,000 bopd flow rates id be happy if flow rates were round the 10,000 bopd mark though im not sure we will even get this. The project will need to hit around 5000 bopd to be cost neutral i guess the major thing is how the flow rates will hold out over the course of the EWT

Dead set boysy, some of the wombats over there are predicting oil in excess of 18,000 Bbopd - the installation only has max liquid cap. of 25k Bbopd. Having commissioned a few of these previously, the longer it takes to firm up flow rates is not a good sign.

My prediction is around the 9,000 mark, with a high side of 12,000.

[boysy]

t1 flows over 18,500 barrels ( almost 8000 bopd net to nido )

http://www.asx.com.au/asxpdf/20100608/pdf/31qqtp4p2zjdrc.pdf

[mattyroo]

18,500 per day - WOW!

I look like the wombat now!

[boysy]

i didnt expect figures this high and with no help from the pump either this will definately make drilling sc 54b much easier now first 100 days or 1mmbl direct to the jv all looks good lets hope those flow rates can be maintained.

[shasta]

i didnt expect figures this high and with no help from the pump either this will definately make drilling sc 54b much easier now first 100 days or 1mmbl direct to the jv all looks good lets hope those flow rates can be maintained.

Wow NDO's production set to rise from ~2000bopd > ~10,000bopd, eclipsing CVN & ROC & matching BPT for production

As well as maintaining the flow rate, i'd be keeping an eye on the water cut, but this is great news for NDO & KIK

[boysy]

Thats the big issue here is the water cut its great news to see no artificial pump being required yet but the water cut will important it really has bumped up there production how long can they produce at this rate is another important question heavy buying already 25 million shares trading hands. KIK seems to be a bit slow off the mark today perhaps the instos are buying into ndo

[boysy]

huge turnover so far 52 million shares the sp up 3.5-4 cents to 23 cents those results were beyond expectations you have to wonder what there plans will be from here on out.

[mattyroo]

Ever since reaching the high of 23.5 yesterday, it has been smashed. I sold all but a few thousand yesterday, and at this rate am mighty pleased I have done so.

I reckon it could go back to 15.5 where it has a bit of support.

[boysy]

could pose a great buying opportunity im not sure we will head back down to 15 unless further turmoil overseas. Id like to see the top 20 that might of changed a fair bit over the last few trading days currently producing 8000 bopd mc 200m go figure i guess the traders and such who bought yesterday must be hurting a wee bit. the minority partner in the jv tg world was up close to 80% last night i guess the market is very scepticle of what the company can do with the cashflows im quite supprised i dint think the market was expecting 18,000 bopd but clearly the euphoria has run its course hopefully the next quarterly will look a bit healther would be good to get rid of the debt.

[boysy]

http://www.manilastandardtoday.com/insideBusiness.htm?f=2010/june/11/business1.isx&d=2010/june/11

Exxon may spend $500m
by Alena Mae S. Flores

ExxonMobil Corp. may spend an estimated $500 million in its Sulu Sea oil exploration, Energy Secretary Jose Ibazeta told reporters Thursday.

Ibazeta said he expected Exxons local exploration unit, ExxonMobil Exploration and Production Philippines B.V., to invest the amount in drilling wells at deep water levels in south Sulu Sea under service contract 56, which covers the Sandakan Basin.

My estimate [is that] they will easily be putting in $500 million for their work program or just to explore. It takes a lot of money to bring up oil. That is just my estimate, he said.

SC 56 covers an area of 8,200 square kilometers and is about 900 kilometers southwest of Manila and 200 kilometers northwest of Bongao, the capital of Tawi-Tawi province. ExxonMobil is drilling a third wildcat well as part of its appraisal of the reserves of the Sandakan Basin.

ExxonMobil has drilled two wells at a cost of $100 million each. It started preparatory work for the drilling of the third well.

A government report showed that the semi-submersible West Aquarius drilling rig spudded the Palendag-1 well on June 4 but plugged and abandoned it after encountering drilling difficulties.

ExxonMobil has since moved the West Aquarius rig to a nearby location, called Palendag-1A.

West Aquarius is the same that ExxonMobil tapped in drilling the first two exploratory wells in Sulu Sea.

ExxonMobil owns 50 percent of SC 56 while partners Mitra Energy Ltd. and BHP Billiton International Exploration Pty Ltd. held 25 percent each.

ExxonMobil completed drilling of the first two wells, namely Dabakan-1 and

Banduria -1, and is processing data registered from the operations. The drilling operations in the Dabakan-1 started in October last year and were completed in December. The Banduria-1 well, meanwhile, was completed in late February.

Energy Undersecretary Ramon Oca earlier said ExxonMobil did not report a flow rate in the first two wells, adding that it would take the company a longer time to evaluate the drilling data.

He said ExxonMobils first two wells, which showed signs of hydrocarbon find, had drawn the interest of foreign oil companies in the South Sulu area.

There are many queries, especially in SCs near ExxonMobil. There are negotiations ongoing, he said.

[Entrep]

Reckon we'll have a chance to buy NDO under 20 cents in the near future again? My orders missed out on both Thurs and Fri

[boysy]

depends what an update likely on tuesday about tindalo flow rates will confirm if they are around the 15,000 bopd and the poo stays above $70 barrel ?

[Entrep]

I am pretty certain the flow rates will be fine... they are natural and hardware limited. Depends on POO then I guess.

[shasta]

depends what an update likely on tuesday about tindalo flow rates will confirm if they are around the 15,000 bopd and the poo stays above $70 barrel ?

Well DOW was up slightly & the Brent price down around $1 to $US75/bbl, so id expect the O&G companies to be flat/slightly down on Monday.

The flow rates will spur NDO & KIK on if they are anywhere near expectations

[boysy]

market must be very sceptical of actual flow rates going foward in the short term fundamentals mean very little as major players leave and come in throwing fundamentals to the side for the moment.

[mattyroo]

Really smashed down on yesterdays announcement that only 6kBOPD is flowing, and that they are producing water. Also, they have been producing for ~24 days now and only produced 75kBBLS, this is nowhere near 6k per day. I know only too well the intricacies of starting up an offshore well, and considering they were having flows at ~18kBOPD initially, there is something not right here.

I suspect there are problems onboard, especially with the statement: "Ongoing commissioning of the production processing equipment has required the well to be produced intermittently...." The only reason you ever produce intermittently is if you have PROBLEMS with the production processing equipment.

What interested me is that they are bringing in specialists from Weatherford to "expedite commissioning". This also underlines my sentiments that they are having problems with something and have ordered Weatherford in to fix the problems.

I had thought about getting back in if it hit 15.5, not now though, my next target entry price would be a stabilisation in SP at 13.5, and of course, a stabilisation in flow rates, only if I haven't found a better place to park my dosh in the interim!

[shasta]

Really smashed down on yesterdays announcement that only 6kBOPD is flowing, and that they are producing water. Also, they have been producing for ~24 days now and only produced 75kBBLS, this is nowhere near 6k per day. I know only too well the intricacies of starting up an offshore well, and considering they were having flows at ~18kBOPD initially, there is something not right here.

I suspect there are problems onboard, especially with the statement: "Ongoing commissioning of the production processing equipment has required the well to be produced intermittently...." The only reason you ever produce intermittently is if you have PROBLEMS with the production processing equipment.

What interested me is that they are bringing in specialists from Weatherford to "expedite commissioning". This also underlines my sentiments that they are having problems with something and have ordered Weatherford in to fix the problems.

I had thought about getting back in if it hit 15.5, not now though, my next target entry price would be a stabilisation in SP at 13.5, and of course, a stabilisation in flow rates, only if I haven't found a better place to park my dosh in the interim!

NDO looks set to suffer from another "Galoc" size problem

[boysy]

it definately does look to be another delay. poor old kik you have to wonder how long that dosh will last before another cap raising. I hear galoc up time this quarter has been the best so far lets get some news on a fid for galoc phase #2. Im a bit worried that nido will drag its heels in and not commit until t1 has been sorted out.

[Entrep]

You guys dont think you are over-emphasizing the problems they are having? They simply say "expediate commissioning", not begin repairing or fixing. I would liken it to small start up problems, nothing massive or something to be worried about. Have purchased 2 parcels of NDO thus far and will look to grab more depending on SP over the coming days/weeks until stablisation.

[shasta]

You guys dont think you are over-emphasizing the problems they are having? They simply say "expediate commissioning", not begin repairing or fixing. I would liken it to small start up problems, nothing massive or something to be worried about. Have purchased 2 parcels of NDO thus far and will look to grab more depending on SP over the coming days/weeks until stablisation.

I guess once bitten twice shy?

Galoc was always overly optimistic & when the problems came, they down played them, over & over again.

Not saying NDO will have the same issues as the commissioning of Galoc, but the market clearly hasnt forgotten it just yet!

[mattyroo]

You guys dont think you are over-emphasizing the problems they are having? They simply say "expediate commissioning", not begin repairing or fixing. I would liken it to small start up problems, nothing massive or something to be worried about. Have purchased 2 parcels of NDO thus far and will look to grab more depending on SP over the coming days/weeks until stablisation.

Having commissioned a number of offshore oil platforms myself, I know what "expedite commissioning" means, Entrep.

[boysy]

Tindalo seems to be an absolute stuff up to date SP of ndo and kik should get savaged tommorow

- 70-80% watercut
- 4-5k bopd
- Workover required

you have to wonder will they both run out of cash at this rate this is KIK only draw of the string no wonder the majors are in no huryy to get in on SC 54B

http://www.hotcopper.com.au/asx_announcements.asp?id=193809

[shasta]

Tindalo seems to be an absolute stuff up to date SP of ndo and kik should get savaged tommorow

- 70-80% watercut
- 4-5k bopd
- Workover required

you have to wonder will they both run out of cash at this rate this is KIK only draw of the string no wonder the majors are in no huryy to get in on SC 54B

http://www.hotcopper.com.au/asx_announcements.asp?id=193809

NDO - Presentation to Australasian Energy Pace Setters conference

http://www.stocknessmonster.com/news-item?S=NDO&E=ASX&N=500476

Despite the Tindalo problems (which have presented some buying opportunities) cashflow still coming in from Galoc

Like OEL they also have a large permit area holding in the Phillipines where all there projects are focussed

Some very prospective deep water targets in among there permits, provide future upside

Disc: Nil - but on close watch

[boysy]

im still very weary about MS they still have plenty of shares to offload anything above 8 cents is profit to them so i think upside is limited by this and downside isnt though they really need tindalo to come through to afford all the other plans worth a punt though i think it could go lower especially if the work over doesnt come through as expected.

[boysy]

Further delays at tindalo looks like a cap raising is on the way no way that i can see that the other jv can afford costs without a cap raising


http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01086470

[boysy]

Gindara fast approaches

full year report not a good look a loss of ~4 cents a share yet directors still talking up the prospects

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01173549

[boysy]

well its looking like G-1 is a duster Nido down 40% and KIK down 70% and KIKO 85% today

[Corporate]

NDO is very cheap IMO. My stake is slightly in the red but I'm very confident that this is a golden opportunity.

The current carket cap of $51m with Galoc producing at 6,200 bopd and phase 2 close to FID.

$13m left in the kitty at 31 March

[boysy]

Looks like 2013 could be the year for nido if management stop trying to hunt elephants. Looks as though at 2.9 cents this could be worth a punt with events unfolding.

[Corporate]

I got out a while ago - very average company !

[boysy]

Think it could bounce strongly off recent lows if they can get a few runs on the board can see clear synergies with oel. Corporate you raise some valid concerns those that bought prior to cr should are are fuming however those new to the share registry could make a multi bagger in 2013 if galoc phase 2 goes to plan and the jv get a result on sc54A

[boysy]

Could be one to watch especially if they get going with the feed program on west linapacan. The one to watch is the galoc north drill this could double reserves and bring production back up near the 18k mark if both phase 2 and the galoc north well come in as planned they find oil production well up from the present 5k being produced.

[clip]

Anyone still following this? I like the exploration work they have been doing hopefully coming to fruition some time next year as referenced in the Edison research paper http://www.nido.com.au/IRM/Company/ShowPage.aspx/PDFs/1822-17724894/EdisonResearchReport. Disc; have taken up a small holding

[clip]

Not sure if anyone still following. Galoc Phase II update - production expected to start next week. I believe they will do well in 2014 with promising exploration. Disc; small holding and I don't know much about oil/petroleum companies but am quietly accumulating. note these are my inexperienced views and should by no means be taken as a signal to buy. DYOR!

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01470880

[clip]

NDO
12:58 PM

Commencement of Production from Galoc Phase II



http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01474157

over 1m shares already gone in less than 10 mins

[clip]

NDO
12:58 PM

Commencement of Production from Galoc Phase II



http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01474157

over 1m shares already gone in less than 10 mins

So now I have a bit more time to think about it, here's some brief numbers - please let me know if i am incorrect or missing something
Expected output is of 12,000 barrels a day, currently 14,5000, for my figures i'm going to use 10,000 to account for off-days, delays etc

Current price of Brent Crude 97.20
10,000bbl @ 97.20 = $972,000 USD
NDO has a 22.879% participating interest, netting $222,383.88USD per day, or 2288 barrels daily approx
@ current exchange rates, that equals $246,133.66AUD or $271,105.61NZD,
Over a year, which i'm going to use 10 months to calculate it (again owing to lost production time due to breakages, extreme weather, other problems) that's $80,247,260.56

does this look correct/incorrect? Can anyone comment on what else they would need to pay on that e.g tax, cost of getting it from the ground to a ship/land/selling it, whathaveyou?

[zigzag]

Clip. You should check out the latest OTTO presentation, in which they do a rough breakdown of other costs such as tax, royalties, etc. I hold OTTO shares, and the Galoc field should keep them in business for a few years yet, and give them the cash to grow the company.

[clip]

Thanks for that

Fiscal terms
Factor
%
Cost recovery cap
70
Contractor profit share
37.5
Filipino Participation Incentive Allowance
7.5
Corporate Tax
30

Are these the figures you are mentioning zigzag? from this http://www.ottoenergy.com/IRM/Company/ShowPage.aspx/PDFs/2008-68538406/OttoEnergyInvestorPresentation

[zigzag]

Yeah. That's the figures I was referring to. It doesn't really give you the complete answer by any means. I'm sure the info. will be out there somewhere. Just need to keep looking. Also, I think your allowance for downtime is too much, going by their performance record to date.

[gazprom1]

Thanks for that

Fiscal terms
Factor
%
Cost recovery cap
70
Contractor profit share
37.5
Filipino Participation Incentive Allowance
7.5
Corporate Tax
30

Are these the figures you are mentioning zigzag? from this http://www.ottoenergy.com/IRM/Company/ShowPage.aspx/PDFs/2008-68538406/OttoEnergyInvestorPresentation

Hey Clip,

Your analysis is getting there. I agree with Zigzag that you should be using current uptime as your baseline. Maybe take 1-2% more downtime if you want to be conservative. Also, you should use 12,500bopd as starting point and then use Galoc depletion numbers as a guide to decreasing production rates over Galoc and Galoc II.

POO is the difficult one but using current POO is probably as good as anything.

Gazprom

[gazprom1]

Looks like another aussie oiler is gone. T/O at 5.5cps. Great for shareholders IMHO.

Used to trade NDO a lot with success. Disappointed to see it go.

Gaz

[Corporate]

Time to start buying OEL IMO!

[gazprom1]

Agree Corporate.

I will PM you later on....hope all is well.

Gaz

[Corporate]

Agree Corporate.

I will PM you later on....hope all is well.

Gaz

Great Gaz - looking forward to hearing from you.