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Assets & Strategy: Our Strategy.old20071121
Nido's strategic focus is on oil & gas exploration & production activities in the North West Palawan Basin of the Philippines. The company's strategic focus can be broken down into three sub-components: Resource Development, Oil & Gas Exploration and Non-core Assets.
Resource Development
Using low-cost development techniques, Nido is seeking to commercialise discovered offshore oil resources that have previously been considered sub-economic. There are examples of undeveloped oil resources in the Palawan Basin that are under investigation by Nido, with a view toward seeking commercialisation. The West Linapacan oil resource is a good example. West Linapacan is located in Nido's SC14 contract area.
This is termed the Rapid Oil Development (ROD) strategy by Nido.
Going forward, Nido may seek to expand this strategic initiative beyond the Philippines to other areas in South-East Asia.
Nido has a significant amount of in-house expertise in the area of ROD techniques.
Oil & Gas Exploration
Nido has accumulated a world-class portfolio of exploration acreage in the Philippines Palawan Basin. Nido is seeking to hi-grade this acreage via seismic acquisition, the establishment of an inventory of drillable leads and prospects, introduction of farm-in participants where appropriate and exploration drilling.
Nido is earning interests in over three-million hectares of gross exploration acreage in the Palawan Basin. This comprises interests in SC54, SC58 and Area 1 (award pending.) These interests are supplementary to the long-standing legacy interests in SC6B and SC14.
Non-core Assets
Nido's non-core assets comprise a 26.1% interest in Cool Energy Ltd. and interests in eight North Sea exploration blocks.
Nido is seeking to monetise these assets via 'spin-off' strategies.