Nido Petroleum provides update on Baragatan-1A well

7/3/2014

Nido Petroleum provides update on Baragatan-1A well

PERTH, Australia -- Nido Petroleum (Nido) on behalf of SC 63 JV partners PNOC-EC and Dragon Oil (SC 63 Philippines) reported that the Baragatan-1A well in Service Contract (SC) 63, offshore the Philippines as at July 2 was currently at 8,061 ft or 2,457 m Measured Depth (7,063 ft or 2,152.9 m TVD subsea).

Since the last update June 23, continuing formation pressure and unstable well bore conditions in the 8.5 inch hole section required the setting of the 7 inch liner at 7,729 ft (2,356 m) Measured Depth (6,919 ft or 2,109 m TVD sub-sea). Following the successful setting of the 7 inch liner, stable hole conditions were established although drilling performance has been reduced in the 6 inch hole section.

Current operation was changing the drill-bit before drilling ahead in 6 inch hole towards the primary reservoir objective.

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