Nido, as Operator of Service Contract 54A (SC 54A), advised that the mobilization of the material and equipment required for the Tindalo-1 well intervention and remediation program has commenced with results expected from the workover before the end of September.

•The support vessel M/V Pacific Ariki started loading the material required for the well intervention in Singapore on August 27, and will mobilize to the Tindalo location via Labuan, Malaysia; •Well testing will continue until the Pacific Ariki delivers its cargo to the Aquamarine Driller and well re-entry operations commence, which is expected within 2 weeks, subject to weather. •Diagnostic logging undertaken as the first step in the well intervention will determine the selection of the remediation option and all items necessary for the three options under consideration are being mobilized to site. •The well intervention is expected to take 10-17days to complete. Well testing is continuing at the field location and the following can be confirmed since the previous update on August 19, 2010:

•Disposal of some 278,000 barrels of the produced water stored on the FSO was completed successfully during a production shutdown from 22-28 August; and •Some 183,000 barrels of oil (@60°F) are now in the storage tanks of the FSO.

Tags: Nido Petroleum Limited