Tindalo-1 test exceeds expectations

A drillstem test at the Tindalo-1 hit a flow rate of 18,689 b/d of oil, reports Kairiki Energy Ltd.

Offshore staff

SUBIACO, Western Australia – A drillstem test at the Tindalo-1 hit a flow rate of 18,689 b/d of oil, reports Kairiki Energy Ltd. Kairiki says the operator, Nido Petroleum Ltd., is testing to determine the optimal long-term production rate.

Preliminary analysis puts the oil at 27º API with no wax and minor amounts of associated gas.

The SC54A Joint Venture partners have exercised a 10-month option on the jackup Aquamarine Driller to produce the oil from the Tindalo field. Production began June 6 at a rate of approximately 15,000 b/d. The oil is accumulating in the FSO Tove Knutsen.

Operator Nido has 42.4% working interest, Kairiki’s Yilgarn Petroleum Philippines Pty Ltd. holds 30.1%, Trafigura Ventures III BV has 15%, and TG World (BVI) Corp. holds the remaining 12.5%.

06/08/2010

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