re: just curious. agent.agree your diffidence abou
retyred,
Drilling, particularly in SC54, will be executed next year. They have ample time to review the seismic data and identify targets between now and late next year. For example, they could potentially drill Coron North tomorrow (if there was a rig available today)...as they already have historical data to base their decision. West Linapacan could also be drilled tomorrow for the same reason.
Dont forget there will be a rig in the Palawan next June so that Galoc can be drilled. Do you envisage the rig to remain in the region after Galoc is drilled? Absolutely!!! Once Nido outlines their exploration program to a rig operator they will bend backwards to assist. We are not talking about 2-5 wells been drilled...Nido will be targeting close to 20-25 wells.
As for implementing their ROD strategy, they will only target stranded fields in close proximity to existing infrustructure (ie, rigs, floating production vessels etc).
Lastly, Nido's decision to drill has/will not be based purely on their current and future seismic survey results. They already have (in their possesion) historical data in all 3 areas (sc54, sc58 Area1) to make informed decisions. Nido has already acquired historical data worth over $5Million for next to nothing. The current seismic surveys are a bonus. They have been analysing this data for almost 12 months and are continuing to do so.
NDO Price at posting:
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