Nido Petroleum Limited , on behalf of the SC 54B Joint Venture, provides the following update on the progress of the Gindara-1 exploration well over the past week.
At 06:00 hrs (WST) on 2 June 2011, the Gindara-1 well was at a depth of 2,745 metres MD (2,723 metres TVDss) and drilling ahead in the Pagasa Formation. Progress for the week was 1,343 metres.
The forward operation is to continue to drill the 12 1/4’” hole through the Pagasa Formation to the section total depth of approximately 3,307 metres MD (3,285 metres TVDss) where the 9 5/8” casing is planned to be set. Prior to reaching the 9 5/8” casing depth, the Gindara-1 well is prognosed to penetrate the top of the secondary ‘Coron Clastics’ reservoir objective at approximately 2,872 metres MD (2,850 metres TVDss). The next weekly update to the market on the progress of the Gindara-1 well is scheduled for 9 June 2011.
[mappress] Source:Nido Petroleum , June 2, 2011