Nido Commences Drilling at Baragatan-1A Well in SC 63 Off the Philippines

Nido Petroleum Limited (Nido or the Company) on behalf of SC 63 Joint Venture partners PNOC-EC and Dragon Oil (SC 63 Philippines) Limited revealed Monday that the Baragatan-1A well in Service Contract (SC) 63, offshore the Philippines, has been successfully spud May 25.

The 30 inch conductor pipe was run to a depth of 568.6 feet (173.3 meters) Measured Depth and successfully set across the unstable geological zone. Following the setting of the 30 inch conductor the well will be drilled to the 13.375 inch casing point around 3,221.8 feet (982 meters) Measured Depth (3,116.8 feet or 950 meters TVD sub-sea).

Nido will provide further progress reports to the market at key casing points during the drilling of the well.

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