Nido Petroleum Limited on behalf of the SC 54B Joint Venture announces correction of a statement made in the Memorandum to The Philippine Stock Exchange, Inc. released by the Department of Energy on 23 May 2011.
Whilst drilling the 17-1/2” hole at 747 metres MD (725 metres TVDss) the drill string became stuck. Following jarring operations the drill string was successfully freed and there was no need to re-spud the well.
Current drilling operations are continuing to drill the 17-1/2” hole at 774 metres MD (752 metres TVDss). A progress report will be released as scheduled on Thursday, 26 May 2011.
Nido Petroleum Limited recently announced that the ‘Atwood Falcon’ deepwater semi-submersible drilling rig spudded the Gindara-1 exploration well at 00:45 hrs on 20 May 2011.
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Source:Nido Petroleum , May 24, 2011