Nido Gets More Time to Complete Seismic Survey Offshore Philippines

Nido Petroleum Limited, as Operator of Service Contract 54 offshore Phillipines, announces that the Philippines Department  of Energy (‘DOE’) have agreed to extend Sub-phase 6 for a period of twelve (12) months from 4 August 2012 to 4 August 2013.

The twelve (12) month extension to Sub-Phase 6 will enable Nido to complete the ongoing 2D seismic processing projects over the Lawaan-Libas Prospects in SC 54A and the Pawikan Lead in SC 54B, and to fully integrate the results and implications of the new seismic data into the subsurface geological models and prospect maturation.

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Source: Nido, June 22, 2012