Harkuya-11 Mobilizing to Drill Balqis-1 Well in Baronang PSC in Indonesia

Nido Petroleum Limited (Nido or the Company) reported Wednesday that the firm has been advised by Operator Lundin Petroleum that the Hakuryu-11 (425' ILC) jackup has commenced the tow to the Balqis-1 location in the Baronang Production Sharing Contract (PSC), Republic of Indonesia.

The Balqis-1 well will be followed by the Boni-1 well which will be drilled as an exploratory side-track well from the same surface location as Balqis-1.

Nido will provide a further update to the market on the commencement of drilling operations at the Balqis-1 well.

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