PERTH, Australia – Nido Petroleum Ltd (ASX: NDO), on behalf of SC 63 Joint Venture partners PNOC-EC and Dragon Oil (Philippines SC 63) Ltd, advises that, on July 6, the Baragatan-1A well reached a depth of 2,681 m (8,796 ft) measured depth [2,328 m (7,638 ft) TVD subsea], having drilled through the primary Pagasa formation reservoir objective.
The primary Pagasa formation reservoir objective was encountered between 2,534–2,654 m (8,314–8,707 ft) measured depth [2,209–2,305 m (7,247–7,562 ft) TVD subsea] comprising primarily limestone of poor to good reservoir quality with minor sandstone and siltstone. Preliminary logging while drilling (LWD) log data recorded through this interval indicates that the reservoir units contain low gas saturations (C1 to C5) which did not warrant further evaluation or testing.
With respect to the two zones of potential interest encountered in the shallower Pagasa formation, preliminary evaluation of available LWD data indicates that the thin sandstone encountered within the gross interval 1,977–2,004 m (6,486–6,575 ft) measured depth [1,785–1,805 m (5,856–5,922 ft) TVD subsea] are potentially gas-bearing and the limestone encountered over the gross interval 2,207–2,236 m (7,241–7,336 ft) measured depth [1,960–1,982 m (6,430–6,503 ft) TVD subsea] contains low gas saturations. Both these intervals did not warrant further evaluation or testing.
The forward operation is to P&A the Baragatan-1A well.