All tagged Nido Petroleum ASX:NDO
Nido Petroleum Limited (ASX:NDO) has announced that the Deepsea Metro I rig has commenced drilling operations at the Galoc-7 appraisal well location in Block C1 of Service Contract 14, offshore The Philippines. The Company will provide further progress reports to the market at key casing points during the drilling of the well.
Nido Petroleum Limited (ASX:NDO) has announced that it has entered into a binding contract for the drillship 'Deepsea Metro 1' for the drilling of the Galoc-7/7ST appraisal well. The well is expected to take 4-5 weeks to drill and will commence in March 2017.
Nido Petroleum Limited (ASX:NDO) has announced net production of 242,092 barrels from the Galoc oil field for the December quarter. An Entitlement Issue during the quarter raised A$26.3m for the drilling of the Galoc-7/7ST appraisal well.
Nido Petroleum announced it will raise up to A$31.9m through an 11.2 for 1 pro‐rata renounceable Entitlement Offer at A$0.065 per new share. Proceeds from the raising will be used to fund the drilling of Nido’s participating interest of drilling of the Galoc‐7 appraisal well and, if required, an associated side‐track scheduled to occur in Q1 2017. Galoc‐7/7ST will appraise the currently untested Galoc Mid Area in Nido’s core asset, Block C1 of Service Contract 14 (Galoc Field).