OEL - (Otto) Multi based, Gambling Stock.

[boxing_beaver]

yes, this is a significant buy-up - very positive announcement.

patiently holding

[tricha]

yes, this is a significant buy-up - very positive announcement.

patiently holding

Patience is the key, another month or so till the Black Gold flows.

ASX Code: NDO

5 March 2008
Company Announcements Office
Australian Stock Exchange Limited
Level 10, Exchange Centre
20 Bond Street
SYDNEY NSW 2000

Galoc Weekly Project Update
28 February to 4 March 2008

Nido Petroleum Ltd (Nido) is pleased to provide this weekly update on the
development of the Galoc oil field, offshore Palawan Basin, The Philippines.

Installation Vessel on Location

The Operator, the Galoc Production Company (GPC), advised that the installation
vessel ‘Lewak Champion’ arrived the at Galoc field on Sunday, 2 March 2008.
The vessel is currently making preparations for the installation of the subsea mooring
and riser system that will link the Galoc 3 and 4 wells to the FPSO ‘Rubicon Intrepid’.

Drill Ship Demobilising

The drill ship ‘Energy Searcher’ is currently under sail and is expected to arrive in
Singapore on 6 March 2008 where it will unload Galoc equipment and materials. It
will then be released from service to the project.
A link to the daily drilling updates is provided on the Nido home page

www.nido.com.au

. Nido will provide the market with a weekly drilling summary each
Wednesday and will continue to notify the market immediately of material events
throughout the Galoc drilling programme.
Yours sincerely

Joanne Williams

Deputy Managing Director

For more information please contact:

Ms. Joanne Williams
Deputy Managing Director
Ph: +61 8 9474 0000
F: +61 8 9474 0099

www.nido.com.au

[shasta]

Patience is the key, another month or so till the Black Gold flows.

ASX Code: NDO
5 March 2008
Company Announcements Office
Australian Stock Exchange Limited
Level 10, Exchange Centre
20 Bond Street
SYDNEY NSW 2000
Galoc Weekly Project Update
28 February to 4 March 2008
Nido Petroleum Ltd (Nido) is pleased to provide this weekly update on the
development of the Galoc oil field, offshore Palawan Basin, The Philippines.

Installation Vessel on Location
The Operator, the Galoc Production Company (GPC), advised that the installation
vessel ‘Lewak Champion’ arrived the at Galoc field on Sunday, 2 March 2008.
The vessel is currently making preparations for the installation of the subsea mooring
and riser system that will link the Galoc 3 and 4 wells to the FPSO ‘Rubicon Intrepid’.
Drill Ship Demobilising
The drill ship ‘Energy Searcher’ is currently under sail and is expected to arrive in
Singapore on 6 March 2008 where it will unload Galoc equipment and materials. It
will then be released from service to the project.
A link to the daily drilling updates is provided on the Nido home page

www.nido.com.au

. Nido will provide the market with a weekly drilling summary each

Wednesday and will continue to notify the market immediately of material events
throughout the Galoc drilling programme.
Yours sincerely
Joanne Williams
Deputy Managing Director
For more information please contact:
Ms. Joanne Williams
Deputy Managing Director
Ph: +61 8 9474 0000
F: +61 8 9474 0099
www.nido.com.au

Exciting aye Tricha?

Now for the upgrade to come...

[tricha]

Exciting aye Tricha?

Now for the upgrade to come...

[/left]

Yeah got to have a win sometime soon would be nice.

Hey Shasta I think the Sharemeeting in ChCh is on this Saturday, any chance you would be going ?

[shasta]

Yeah got to have a win sometime soon would be nice.

Hey Shasta I think the Sharemeeting in ChCh is on this Saturday, any chance you would be going ?

If it's this Saturday i can't make it, though have "promised" to make both an Auckland & Christchurch event this year...

I'm waiting for either ADY/OEL or URA to run before holding the next Wellington event, your most welcome to come up to the nations capital!

[shasta]

If it's this Saturday i can't make it, though have "promised" to make both an Auckland & Christchurch event this year...

I'm waiting for either ADY/OEL or URA to run before holding the next Wellington event, your most welcome to come up to the nations capital!

http://www.nzherald.co.nz/section/3/...ectid=10497648

OEL's oil will be sold at a small discount to the Brent price (currently $US105.25).

Less than a month away from approx ~3300 bopd (@ say $US90/$A100/bbl) = $A330,000 per day revenue...

I'm loving it, the oil is flowing at the very time the POO is set to rise

After the impressive Galoc 3 & Galoc 4 - flow tests, it seems the daily flow rate will be choked back to 17,500/18,000 bopd.

Can't wait for Calauit to come online later in the year, (OEL has 98%) of P2 reserves of 5.9mmbo (anticipated flow rate ~ 12,000 bopd)

By year end OEL should have net 15,000 bopd flowing...

[shasta]

http://www.nzherald.co.nz/section/3/...ectid=10497648

OEL's oil will be sold at a small discount to the Brent price (currently $US105.25).

Less than a month away from approx ~3300 bopd (@ say $US90/$A100/bbl) = $A330,000 per day revenue...

I'm loving it, the oil is flowing at the very time the POO is set to rise

After the impressive Galoc 3 & Galoc 4 - flow tests, it seems the daily flow rate will be choked back to 17,500/18,000 bopd.

Can't wait for Calauit to come online later in the year, (OEL has 98%) of P2 reserves of 5.9mmbo (anticipated flow rate ~ 12,000 bopd)

By year end OEL should have net 15,000 bopd flowing...

Galoc update out today...

http://sa.iguana2.com/cache/ee8ffc6c...NDO-398944.pdf

Nice pictures on page 2, else not much of interest.

Seems to be all on schedule & ready to come online in 2 - 3 weeks.

[tricha]

Galoc update out today...

http://sa.iguana2.com/cache/ee8ffc6c...NDO-398944.pdf

Nice pictures on page 2, else not much of interest.

Seems to be all on schedule & ready to come online in 2 - 3 weeks.

Lets hope they can do a Tui and get it right Shasta, anything else and like everything in the market at the moment and they will be punished.


Disclosure - hold 100,000 and selling none. Will take the risk\reward scenaro

P.S Hey Shasta do not know what happened to the ChCh sharemeeting, but next one in May, be great to catch up.

[shasta]

Lets hope they can do a Tui and get it right Shasta, anything else and like everything in the market at the moment and they will be punished.


Disclosure - hold 100,000 and selling none. Will take the risk\reward scenaro

P.S Hey Shasta do not know what happened to the ChCh sharemeeting, but next one in May, be great to catch up.

I believe OEL with Galoc will do something similar to what NZO did re Tui.

I expect flow rates to be choked back to around 17,500 - 18,000 bopd & maintained longer than expected, with minimal water cut.

I expect Galoc will be upgraded as well, however like you say, any problems it will get smashed, although OEL has minimal debt & plenty of $$

The market likes certainty of cashflows & pleasant surprises!

Don't forget the Turkish gas assets that are being drilled, about now?

I'm keeping an eye on both NDO & IPM, re any corporate activity etc.

Will do my very best to get down to Chch for the May event.

I've been off work for 4 months rehabbing a back injury, & still receiving treatment/physio.

[Serpie]

P.S Hey Shasta do not know what happened to the ChCh sharemeeting, but next one in May, be great to catch up.

ChCh meetings have always been the week after the ASX quarterlies Tricha. Feb/May/Aug/Nov. Always plenty to talk about at those times. Next one beginning of May, possibly to be hosted by Bermuda.