Drilling Underway at Gobi-1 Well in West Natuna Basin's Gurita PSC

Australia's oil and gas firm Nido Petroleum Limited (Nido or the Company) reported Thursday that it has been advised by Operator Lundin Gurita B.V. that the Gobi-1 exploration well in the Gurita Production Sharing Contract (PSC) in West Natuna Basin, offshore the Republic of Indonesia has reached the 13.375 inch casing point at approximately 1,410 feet (430 meters) Measured Depth.

Current operation is running the 13.375 casing.

Nido currently has a 10 percent working interest in the Gurita PSC, with Lundin Gurita, a subsidiary of Sweden's Lundin Petroleum A.B., holding the remaining 90 percent interest in the offshore block. The Gobi-1 well is being drilled by Japan Drilling Co. Ltd.'s jackup Hakuryu 11 (425' ILC).


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