Drilling Update (8546X)
February 22 2012 - 2:00AM
UK Regulatory
TIDMJUB
RNS Number : 8546X
Jubilant Energy N.V.
22 February 2012
22 February 2012
Jubilant Energy NV
("Jubilant" or "the Company")
Jubilant spuds the Kathalchari-NE (KL-NE) Appraisal well in the
southern part of the Tripura block
Jubilant is pleased to announce that the Kathalchari-NE (KL-NE)
well was spudded on 21 February 2012 in the Tripura block. This is
the second well drilled to appraise the Kathachari-1 (K-1)
discovery. The well is located four kilometres north-northeast and
up-dip from K-1 and 2.6 kilometres northwest and down dip of the
first appraisal well Srikantabari-1.
The KL-NE will be a vertical well drilled to a total depth of
2,990 metres Measured Depth ("MD").
This well will test the Middle Bhuban equivalent sands
encountered in the K-1 well, one zone of which had flowed at a rate
of 5.2 mmscfd. These equivalent sands are expected to be
encountered approximately 600 metres up-dip of the K-1 sands. The
well is the fifth well to be drilled on the block.
As previously announced, the first appraisal well,
Srikantabari-1 (S-1) was drilled to a depth of 2,973 metres
Measured Depth ("MD") compared to planned target depth of 3,323
metres MD. At 2,972 metres MD, a gas kick was witnessed while
drilling and recorded a maximum gas of 48.9%. Due to well control
issues the drilling was terminated at 2,973 metres MD and Jubilant
plans to test the sands encountered while drilling. A gas kick was
also observed at 2,781 metres MD.
Based on the interpretation of the sub-surface data such as Mud
logs, Dipole Shear Sonic Imager (DSI) log, Logging While Drilling
(LWD) logs and Wireline logs, five zones of interest, totaling to
approximately 92.5 metres gross thickness, have been identified for
testing within the Middle Bhuban formation. Jubilant is now
planning to test these five zones in a sequential manner with a
workover rig along with Kathalchari-NE (KL-NE) testing.
Jubilant holds a 20% participating interest in this block
through its subsidiary Jubilant Oil & Gas Private Limited,
India which is also the Operator for the block. GAIL India Limited
holds the balance 80% participating interest.
Enquiries:
Ajay Khandelwal, Vipul
Jubilant Energy Agarwal +91 120 4025700
Evolution Securities Jeremy Ellis, Neil Elliot +44 20 7071 4300
Deutsche Bank Rajat Katyal, Drew Price +44 20 7547 8000
Nick Elwes, Alexandra
College Hill Roper +44 20 7457 2020
Competent Person's - Consent for Release
Maxwell Birley, BSc in Geological Geophysics, the Company's
Chief Operation Officer, has 30 years of international experience
in the exploration and production industry. He has reviewed and
approved the technical information contained in this announcement
pursuant to the AIM guidance note for mining and oil and gas
companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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