http://online.wsj.com/article/BT-CO-20091116-703978.html
KUALA LUMPUR (Dow Jones)--Malaysian Merchant Marine Bhd. (7040.KU) said Monday it plans to take a 20% equity stake in the Tindalo oil field development project in the Philippines.
The Malaysian shipping firm said in a stock exchange filing it had been invited by Australia's Nido Petroleum Ltd. (NDO.AU), the major acreage concession holder in the Northwest Palawan Basin in the Philippines, to take a 20% stake in the project.
Nido discovered the oil field in Service Contract 54 Block A in Palawan Basin with oil reserves of up to 11 million barrels.
The field is Nido's second oil find in the Palawan Basin, Malaysian Merchant said, but didn't provide further details.
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