Offshore staff
SYDNEY, Australia -- Nido Petroleum has found the presence of hydrocarbons with its Tindalo-1 exploration well in the NW Palawan Basin, offshore the Philippines.
The Nido Formation reservoir was intersected at approximately 1,635 m RT (5,364 ft) on Oct. 14. The wet gas readings observed while drilling and cuttings recovered from the top reservoir demonstrating fluorescence are both indicative of the presence of hydrocarbons, the company says. Any hydrocarbon accumulation will be confirmed with wireline logs after drilling the 8.5-in. (21.5-cm) hole section.
The company will now:
• Run and cement 9 5/8-in. (23-cm) casing in 12.25-in. (31-cm) hole
• Drill ahead in the Nido Formation in 8 1/2-in. hole to an approximate total well depth of 1,800 m (549 ft) RT
• Run wireline logs to fully evaluate the Nido Formation. If the wireline logs demonstrate potentially commercial hydrocarbon volumes, the well will be capped and prepared for completion as a production well for extended well testing at a later date. If the wireline logs demonstrate there are non-commercial volumes of hydrocarbons or that the well is dry, the well will be plugged and abandoned
• Demobilize the rig
Tindalo-1 is expected to take approximately three weeks to drill.
10/15/2008
