Nido Petroleum Limited, as Operator of Service Contract 54A (SC 54A), advises that first oil flowed to surface at 11:00am (Manila time) on 30 May 2010 from the Tindalo-1 well.

This follows the conclusion of well completion operations on the Tindalo-1 oil well earlier this week and final hookup and function testing of the surface production equipment.

In line with Tindalo's Plan of Development, an extensive drill-stem testing programme (DST) will be conducted to enable reservoir fluid and crude assay sampling and to assess the production performance of the well over a range of production conditions to determine the well's initial production capability. Nido will provide a further update on the testing results when available.

SC 54A Working Interests Nido Petroleum Philippines Pty Ltd - Operator: 42.4% Yilgarn Petroleum Philippines Pty Ltd: 30.1% Trafigura Ventures III BV: 15.0% TG World (BVI) Corporation: 12.5%

Tags: Nido Petroleum Limited