PERTH--4 Oct--Medianet International-AsiaNet/InfoQuest Nido Petroleum is pleased to announce the commencement of the next major seismic acquisition campaign across the company’s extensive NW Palawan exploration portfolio. The program will be the largest ever undertaken in the history of the company and follows on from the Abukay 3D in Service Contract (‘SC’) 54 and Talusi 2D in SC 58, both completed at the end of 2006. It will comprise a combined total in excess of 5,000 line km of 2D and 846 sq km of 3D seismic data. The combined program will involve seismic vessels the MV ‘Pacific Titan’ and MV ‘Pacific Sword’, both contracted from CGGVeritas for the 100-120 day operation. Nido’s Head of Exploration Jon Pattillo said apart from being the company’s largest ever program, the size also reflects the potential identified in Nido’s Palawan exploration portfolio by the 2006 seismic campaign. “The program is multi-faceted, with SC 54 and SC 58 about delivering a drilling portfolio through 3D acquisition over five high graded areas and SC 63 focused on acceleration of the 2D program in order to bring this large block to a level of maturity similar to SC 54 and SC 58 as quickly as possible,” Mr. Pattillo said. The MV ‘Pacific Titan will operate in SC 54 and 58 to acquire 2D and 3D programs. In SC 58 Nido and Join Venture partner PNOC-EC will acquire 661 square km of 3D seismic aimed at delivering a portfolio of mature drilling candidates by the second quarter of 2008. Following the preliminary interpretation of the Abukay 3D seismic in SC 54, Nido and Joint Venture Kairiki plan to extend the seismic survey westward by a further 165 sq km to ensure full coverage of the Princesa Lead and the late Miocene ‘Pagasa’ Turbidite play fairway. Furthermore, Nido and Kairiki plan to capitalise on the presence of MV ‘Pacific Titan’ and acquire approximately 400 km of 2D seismic as line extensions from adjacent SC 58 over the less explored southern sector of SC 54. MV ‘Pacific Sword’ will operate in SC 63, acquiring 3,165 line km of 2D seismic data which will provide an excellent regional platform to high-grade areas for further 2D and or 3D seismic in 2008. The SC 54 3D seismic survey commenced on the 27th September 2007 with the SC 58 2D and 3D program commencing in late October. The SC 63 survey is anticipated to commence in mid October. For more information please contact: Sascha Stone Media Relations Officer (+61 8) 9473 0546 (+61 8) 9473 0576 pr@pmsmarketing.com.au SOURCE: Nido Petroleum --Distributed by AsiaNet ( www.asianetnews.net )--