Nido's Philippines push

摘要

Nido Petroleum plans to use the US 39.5m it raised in a private placement to push on with drilling plans on Service Contract 54 in the Palawan Basin offshore the Philippines.Australia's Nido said the funds will enable it to kick off work with partner Kairiki Energy on two shallow water wells on SC 54 by the end of the year,as well as spud a deepwater probe on the Gindara prospect in 2009.