NDO 2.22% 88.0¢ nido education limited

Opt, here's how Nido were looking at it back in Nov 05 (excerpt...

  1. 6,350 Posts.
    lightbulb Created with Sketch. 100
    Opt, here's how Nido were looking at it back in Nov 05 (excerpt from Ambrian report on Nido)...gives a bit more detail than the Nido and Philodrill websites.

    SC14-C (West Linapacan):
    SC14-C is located in 350 metres of water, approximately 60km offshore Palawan Island. The concession contains two oil bearing structures, West Linapacan A and B.
    The West Linapacan A and B structures are NW/SE trending, fault bounded anticlines, with the reservoirs being upper Eocene to lower Miocene age fractured limestones.
    The A structure was produced for 3 years in the early 1990’s but has been shut-in since early 1996, while the B structure was never produced; both produced 32-34°API oil.

    Study conducted over the region during 2005 has identified a number of opportunities, not only with respect to the existing discoveries, but with further exploration upside in the immediate vicinity. Nido is planning to redevelop the West Linapacan oil fields in three distinct phases, namely the redevelopment of the West Linapacan A oil
    field, the development of the West Linapacan B oil discovery and further exploration of the area surrounding existing discoveries; these phases are described in more detail in the following text.

    West Linapacan A Redevelopment:
    Three wells have been drilled in to West Linapacan A, with the second two being acidised prior to be put on-stream. While initial flowrates topped 18k bopd, the aggressive production regime precipitated increasing water cuts.
    The field was eventually shut-in in 1996, approximately 3 years after being brought online; the field produced a total of 8.5 million barrels of oil while on production.
    Study by Nido suggests that the water ingress was most likely the result of the inappropriately high production rates. It is believed that in the intervening 10 years, the water levels in the reservoir will have reestablished
    an equilibrium.
    Consequently, the company believes that West Linapacan A can be produced effectively utilising modern production techniques and the use of horizontal well technology.

    West Linapacan B Development:
    West Linapacan B1X was drilled to evaluate a nearby, deeper seismic target. The well reached a depth of 2,472 metres, but failed to intersect the oil water contact (OWC). The well flowed up to 3k bopd on test from what is reported to be the same fractured carbonate reservoir as the 'A' accumulation. The well was plugged and suspended as a potential production well but was never brought on line.


    Not sure how Pitkin are going to handle the project (if they decide to go ahead and commercialise), but there is further potential on the block...viz:-

    West Linapacan Exploration:
    The West Linapacan area contains a number of exploration plays including the previously delineated West Linapacan C prospect. The 3D seismic data acquired over the area in 1998 will be reinterpreted as part of an indepth review. A prospects and leads inventory will then be prepared.


    Bwana, no ken tok olsem masta bos i bin selim pepa bilong em!
 
watchlist Created with Sketch. Add NDO (ASX) to my watchlist
(20min delay)
Last
88.0¢
Change
-0.020(2.22%)
Mkt cap ! $200.7M
Open High Low Value Volume
88.5¢ 88.5¢ 87.5¢ $71.84K 81.49K

Buyers (Bids)

No. Vol. Price($)
1 55739 85.0¢
 

Sellers (Offers)

Price($) Vol. No.
90.0¢ 10000 1
View Market Depth
Last trade - 14.29pm 18/07/2024 (20 minute delay) ?
NDO (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.