activities updte, page-15

From todays PNN, these guys are a great source of news so if you haven't subscribed I think it's worth your while.


Nothing significant here but it shows they are keeping busy.

---

NIDO Petroleum is actively pursuing the huge potential in its Palawan Basin acreage and has announced several plans for further exploration in permits SC 63 and SC 58.

Offshore Philippines.

In the deepwater SC 58 permit, Nido has completed a detailed technical and commercial assessment of tenders for a multi-beam and seabed coring program, and expects to award the project to a contractor in the next few weeks.

The multi-beam and seabed coring program will allow the SC 58 joint venture to select a prospect for drilling.

Once the contractor has been selected, the work will start in January with results available in the second quarter of 2010.

“The results of this work are likely to have a significant bearing on which of our three large deepwater prospects (Balyena, Butanding, Dorado) are selected to drill as the first well in the block.”

Over in SC 63, Nido said seismic contractor PGS Asia Pacific will shoot an 840 square kilometre 3D seismic survey next month to further de-risk the multiple leads identified by a 2008 2D seismic survey.

The company has already started preliminary operations by acquiring a high-resolution bathymetry survey over the planned 3D area.

“The survey, which is ongoing and being acquired by TriNav, is an important prelude to the 3D survey, providing detailed information on the location of seabed features such as reefs,” Nido said.

“The survey is also a key part of our environmental risk-management planning ahead of the 3D survey.”

Meanwhile, in other news, Nido has entered into a joint study initiative with a Southeast Asian national oil company to review the basin in the Philippines for its oil and gas potential.

The company said the project would start this month with phase one running through to the end of the year.

If the outcomes are positive, phase two will start and continue to the end of March 2010.

Phase two includes carrying out a more detailed examination of the high-graded basin prospects.