BARAGATAN-1 WELL TOBE RE-SPUDDEDNido Petroleum Limited (ASX:...

BARAGATAN-1 WELL TO
BE RE-SPUDDED
Nido Petroleum Limited (ASX: NDO) (“Nido” or the “Company”) on behalf of SC 63 Joint Venture
partners PNOC-EC and Dragon Oil (SC 63 Philippines) Limited wishes to advise that the Baragatan-
1 well is to be re-spudded.
During the drilling of the 36” top-hole section the well encountered an unexpectedly unstable
geological zone which precluded the setting of the 30” conductor pipe at the planned depth of 169.5
metres Measured Depth (137.5 metres TVD sub-sea). The forward plan is to move the rig
approximately 100 meters from the current surface location and re-spud the well.
Nido will provide further progress reports to the market at key casing points following the re-
spudding of the well.