Nido Petroleum is a wholly owned subsidiary of Bangchak Corporation, a Multinational Energy Company.

Service Contract 6B

Philippines-full SC6
Project: East Cadlao prospect
Location: NW Palawan Basin, offshore Philippines.
Working interest 7.81%
Operator The Philodrill Corporation
Area 55,000 hectares
Brief description: The block contains the East Cadlao exploration prospect; a possible extension of the Cadlao oil field which is located in the adjacent SC 6 block (which Nido is not a participant in) and a number of Nido Pinnacle reef exploration targets.
Recent activity:
Service Contract 6B contains the East Cadlao prospect, a possible extension of the Cadlao Oil Field in the adjacent Service Contract 6. The SC6B Joint Venture partners have recently completed the reprocessing of approximately 402 sq km of seismic data. The results are currently under review by the Operator. Nido retains only a 7.81% Participating Interest in Block 6B.