AUSTRALIA

Nido clears debt

NIDO Petroleum has settled its remaining convertible bonds debt, delivering some good news to investors following its recent spate of bad luck in SC54B, offshore Palawan Basin, Philippines.

Marija Stojkovic

The company said it had paid out the remaining outstanding debt of around $600,000 under the $US22 million convertible bonds issued to Merril Lynch in September 2006. With the debt repaid and continuing...

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