Nido Petroleum (ASX:NDO) shares climbed 35.5% to an intra-day high of $0.042 on Friday from its close of $0.031 on 22 July, prompting the ASX to issue a price and volume query.
In its response to the query, which was issued after Nido shares reached $0.038, the company said it was unaware of any reason not announced to the market that could explain the recent trading.
However, it noted that it continues to be in discussions with parties to maximise value for its shareholders.
The company’s net share of production from the Galoc and Nido oil fields during the June 2014 quarter was 174,622 barrels and 9,265 barrels respectively for total revenue of $19.1 million.
Nido has $18.5 million in cash as of 30 June 2014.
