Ann: Indonesian Drilling Program to Commence Nove, page-2

re: Ann: Indonesian Drilling Program to Comme... Anybody care to read between the lines on the announcement?

Nido’s Managing Director, Mr Phil Byrne stated: “I am looking forward to the commencement
of the drilling campaign in Indonesia. This is an exciting time as these wells mark the
commencement of an intense period of operational activity for the Company that will see two
exploration wells and a side-track drilled in Indonesia and an exploration well drilled in the
Philippines through to the second half of 2014”.

So does the above imply Baragatan will be second half of 2014?

The rig has been made available through a long-term rig-share agreement between Premier
Oil and Lundin Petroleum. Under the terms of this agreement, Lundin has secured the first
wells on the rig-share drilling sequence, with a further two options slots available to
Lundin/Nido in 2014/15.

does this suggest Lundin will be partners in Baragatan with these slots available?
Left with more guessing games on the outcome of Baragatan but would tie in with Phils "rig suitability". No metion of 20% taken up and govt approvals only relate 10%. quote

"Nido has received government approval from MIGAS of the transfer of the 10% participating
interest in each of the Baronang, Gurita and Cakalang PSCs."

All imo only