Nido Petroleum Limited, the Australia Stock Exchange-listed oil and gas exploration company has requested an immediate trading halt over the Company’s shares (ASX Code: NDO).
The company explained that the trading halt was necessary to enable Nido to make an announcement in response to “media speculation in relation to the West Linapacan oil field re-development.”
“Nido requests that the trading halt remain in place until the opening of trading on 14 June 2013, unless before that time Nido makes an announcement concerning the media speculation,” said Nido in a press release issued today.
West Linapacan is situated approximately 60 kilometres offshore Palawan Island in Service Contract 14, Philippines. It comprises two main oil bearing structures – West Linapacan A and B – and several seismic leads.