baragatan-1 well to be re-spudded nido petrole, page-147

Sad but true insaf even 20, 30  or 50 million vol won't suffice I'm afraid. A continuing uptrend accompanied by large holders coming on board may get it done. If a strike here doesn't do the job or it's dry I would expect to see Management take some drastic action to try and address this issue. God forbid but I'd expect a share consolidation to see if that works. That's a gamble in itself and never seems to end well for current holders. Percentage wise it would still leave our major holder in the same position. There's no doubt Phil has been trying to get this sp rocking but they put themselves behind the eight ball from the start with a 40% dilution at 10 year lows. I said at the time they had been badly advised but 3rd parties have other agendas when it comes to capital raisings and it's rarely in the interest of shareholders. When you say "enormous find", it can only be so enormous. 115mil barrels about and max to 166mil barrels. Unfortunately this isn't African elephant country where the numbers are off the scale. even so nte of 22-33million barrels to Nido would create enormous interest and the valuations would have to make sense at some stage. In this game the odds are against a find and I dread the announcement which may be forthcoming this week., No hydrocarbons encountered, some but not commercial, some but will need another drill to evaluate, the list is endless. Let's hope for the other type! IMO this is by far Nido's most important drill ever given their current position. As strats says, if the drill has been turning over the weekend, announcement or not tomorrow should give us some indication of how it's been going.Best of luck to all of us holding. All IMO only. Not related to Nido or baragatan specifically but gives you some idea of the potential a large discovery could have for this company.

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