Is a Sidetrack the Road to Riches for Nido?

By David Press on 9/15/2010 10:00 PM


Nido Petroleum announced on Monday 13th September that a sidetrack program was now underway at their troubled Tindalo-1 well in the Phillipines. We discussed recent water production issues in this blog and have been awaiting news on developments since.

 All things going to plan, news should be forthcoming in around a week regarding Tindalo-1 coming back online and possibly initial flows. I'm sure I'm not the only investor hoping they are taking their time and getting it right this time around, but assuming they do, Nido Petroleum's future cash flows and hopefully shareprice are in for some serious growth.

 

Recent presentations by the company continue to place great emphasis on their...
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Nido Petroleum Run into Issues at Tindalo-1

By David Press on 8/10/2010 10:20 PM
Nido Petroleum (NDO-ASX) and it's joint venture partners of Tindalo-1, a shallow water oil target in the Philippines, have run into water cut issues after initial high flow rates and a swift rise in the shareprice.

 Nido recently announced the need to perform a work over on the well with an expected start within 3-4 weeks of joint venture approval. Currently Tindalo-1 is producing at sub-optimal levels due to high levels of water cut and poor water separation and treatment. Nido has been forced to store large volumes of water due to the poor performance of its water treatment equipment (treated water unfit for return to natural environment) resulting in further setbacks.

 

Performance upgrades for the water treatment equipment will be performed as soon as possible and production levels will be increased to the maximum allowable...
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YourWealthWatch Blogs - Dave Press Parent Separator Stocks

Nido Petroleum-On The Verge of Something Big

By David Press on 5/26/2010 8:01 PM
 

Nido Petroleum Ltd (ASX-NDO) a small oil producer with large acreage in the highly prospective Palawan Basin in the Philippines is on the verge of producing results which the company believes will be transformational. Flow results from their Tindalo 1 well are imminent with potential to significantly increase cash flow for the company, but more importantly success at Tindalo will minimise Nido's reliance on a farm out of it's company making Gindarra targets.

 

Tindalo 1 in Service Contract 54A is targeting between 7000 and 15000 bopd of which NDO holds a 40% interest. Success will potentially triple Nido's production and add significantly to Nido's cash flow which at its current market capitalisation, should put upward pressure on share prices. Recoverable oil is estimated at 5.1mmbbl but risk still remains on the flow rates and how long the well will flow at economic rates. Further to Tindalo 1, Nido has a number of shallow targets in SC54A that may offer further production increases,...
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