I think that any targets to be drilled which are oil finds should be big enough for a stand-alone development. Shell are well overdue to find more gas for Malampaya - if they have a hit with Gindara then they have enough gas well into the future (and if not they may drill up 54 deep to find it).
On that basis the rest of the acreage is wide open, down south bringing gas to shore for electricity to displace diesel generation and for mining processing use may work. May even go with "gas to wire" where a power plant is built offshore and a cable layed to the beach. They would need a very large gas find for LNG and 10 years to develop it (into a perdicted LNG oversupply in the next 5 or so years).
Oil is brilliant, gas is good - but problematic to commercialise. Floating LNG is being led by Shell (and could be a game-changer) so there is some advantage in being partnered up with them.
Fingers crossed for Gindara - success there will have a major impact on the remaining acreage... and in a success case Nido may sell out to Malampaya JV partners for nice $$ and not participate in the development (of that field only - keep rest of 54 deep).
p1000
NDO Price at posting:
9.3¢ Sentiment: Hold Disclosure: Held
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