quarterly report's out

Quarterly Report
For the period ending 30 June 2010
Nido Petroleum Limited (the Company) is pleased to present its quarterly report for the three months ending 30 June 2010.
Operational Highlights
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Galoc Operation and Production
Oil production from the Galoc oilfield was up 3.84% from the previous quarter, due to steady production conditions.
Uptime for Galoc for the quarter was 99.94%, up 17.3% from the previous quarter.
Over 5.14 million barrels (gross) of oil have been produced from the Galoc field since start up to the end of the quarter.
Development and Exploration
The Tindalo oil field EWT programme commenced during the quarter.
First oil flowed from the Tindalo oil field on 30 May 2010.
Over 40,000 barrels of oil (net to Nido) have been produced to the end of the quarter and are being held in inventory on the FSO Tove Knutsen.
The deepwater multi-beam and sea-bed coring survey in SC 58 was completed in May. Cores are currently in Norway undergoing geochemical analysis with results expected in August.
Processing of the Kawayan 3D seismic survey in SC 63 was completed in July. Final products are being loaded onto workstations for interpretation. Data quality has been substantially improved over the existing 2D seismic data.
The company announced a five well exploration drilling program covering a period of 18 to 24 months at its AGM on 21 May 2010.
Nido Petroleum Limited Quarterly Report 30 June 2010 2
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Financial Highlights
Cash on hand at the end of the quarter of A$18.2 million, (A$23.5 million at as 31 March 2010).
Quarterly production and sales performance:
June
2010
Quarter
March
2010
Quarter
Year to date
Oil Production Tindalo Oil Field (net to Nido)
barrels
41,502
_
41,502
Oil Production Galoc Oil Field (net to Nido)
barrels
182,307
175,558
357,865
Liftings sold in quarter*
barrels
235,014
148,200
383,214
Revenue *
A$M
13.8
18.0
* Revenue is subject to timing and payment conditions and may therefore not correspond to Liftings