Rick Wilkinson
OGJ Correspondent
MELBOURNE, Oct. 27 -- Nido Petroleum Ltd., Perth, has found a 119 m oil column in its Tindalo-1 wildcat on Permit SC54 in the Northwest Palawan basin off the Philippines.
The find, confirmed by wireline logs the week of Oct. 20, has been completed as a future production well.
Nido said the discovery is in the top of the Nido formation reservoir. It is possible that an additional 15 m of oil will be found below the logged zone, as good oil shows were found during drilling.
However this could not be determined accurately because a lost circulation zone prevented acquisition of wireline logs to the well's total depth of 1,875 m.
The Tindalo-1 discovery comes hard on the heels of the company's Yakal-1 find earlier this year that encountered a 78-93 m gross oil column and resulted in greatly increased confidence in the rapid commercialization strategy for the SC54 region. Both wells were drilled by the WilBoss independent leg cantilever jack up rig, owned by Awilco AS, Oslo.
Nido now intends to review all data from both wells to evaluate reservoir quality and in-place oil resource estimates. There are more than 20 additional prospects in this area shown on the 3D seismic data.
Nido is operator of the block and has 60% interest. Kairiki Energy holds the remaining 40%.
