Nido updates on Baragatan drilling status

Nido Petroleum Limited on behalf of SC 63 Joint Venture partners PNOC-EC and Dragon Oil (SC 63 Philippines) Limited said today that the Baragatan- 1A well as at 2 July 2014 was currently at 2,457 meters Measured Depth (2,152.9 meters TVD subsea).

Since the last update on 23 June 2014, continuing formation pressure and unstable well bore conditions in the 8 1/2″ hole section required the setting of the 7″ liner at 2,356 meters Measured Depth (2,109 meters TVD sub-sea).

Following the successful setting of the 7” liner, stable hole conditions were established although drilling performance has been reduced in the 6” hole section. Current operation was changing the drill-bit before drilling ahead in 6” hole towards the primary reservoir objective.