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Nido Petroleum

  

NEWS RELEASE

Nido Petroleum selects Incom Risk Manager

For immediate release: Sydney, Australia – May, 2011

Incom®, supplier of the world’s leading fully translatable risk management software system, has announced the addition of a new client to their valued client list.

In mid-2011, Nido Petroleum purchased an Incom Risk Manager system to enhance their proactive efforts in reducing corporate and operational risks related to their oil drilling operations.

Nido Petroleum Limited is an ASX-listed (ASX:NDO) oil and gas exploration and production company. The Company's portfolio of producing, exploration and development assets are located in the prolific NW Palawan Basin - the dominant offshore producing basin in the Philippines. The Philippines offers a stable regulatory environment and fiscal regime for oil and gas production, exploration and development.

Nido holds a gross acreage position of 2,944,000 hectares in the NW Palawan Basin, with water depths in the basin ranging from less than 100 metres to in excess of 2,000 metres. The large contiguous acreage position provides basin-wide exposure to multiple play types and contains material world-class prospects.

Nido has invested over US$80 million on exploration activities in the basin, and encountered hydrocarbons in all three of its exploration wells drilled since 2008.

At the Company's producing Galoc oil field, over 9 million barrels (gross) have been produced to July 2012. There is additional production upside in the Phase 2 development of the Galoc oil field.

Incom helped Nido move quickly from single-user spreadsheet risk management, to multi-user web-enabled database driven enterprise risk management in the shortest time and lowest cost by using powerful tools that were simple to install, configure, learn and use.

Ends

 

For further information please contact:

David Watson

CEO Incom

E: david.watson@incom.com.au

 

About Incom

Incom (www.incom.com.au) provides risk, incident and issue management solutions for diverse industries and has built its reputation on customer satisfaction, investment in product development and teamwork.  Incom customers include health services, emergency services, police services, local government, state government, federal government, engineering, telecoms, energy, manufacturing, mining and exploration, property and construction, financial, sporting clubs, major events, not-for-profit, universities, and by security, project office, and IT departments.  It has more than 150 installations around the world including in Australia, North America, Europe, Asia/Pacific, South America and Africa.