Nido issues update on Baragatan-1 exploration well
Nido Petroleum Limited (ASX: NDO) (“Nido” or the “Company”) is pleased to announce on behalf of SC 63 Joint Venture partners PNOC-EC and Dragon Oil (SC 63 Philippines) Limited that the UMW Naga 5 jack-up rig spudded the Baragatan-1 exploration well in Service Contract 63, offshore the Republic of the Philippines, at approximately 8.00 am WST 15 May 2014.
The well, which is being operated by Nido Petroleum Philippines Pty Ltd, is currently drilling ahead in the 36” hole section prior to setting the 30” conductor as planned. Nido will provide further progress reports to the market at key casing points during the drilling of the well
Source: Nido Petroleum