Jubilant Energy: Kathalchari-NE Well Was Spudded On Feb. 21

Jubilant Energy N.V. (JUB.LN), a upstream oil and gas company with assets in hydrocarbon basins in India, Wednesday said the Kathalchari-NE, or KL-NE, well was spudded on Feb. 21 in the Tripura block.

MAIN FACTS:

-KL-NE will be a vertical well drilled to a total depth of 2,990 meters Measured Depth, or MD.

-Well will test the Middle Bhuban equivalent sands encountered in the K-1 well.

-Well is the fifth well to be drilled on the block.

-Five zones of interest, totaling to 92.5 meters gross thickness, have been identified for testing within the Middle Bhuban formation.

-Planning to test the five zones in a sequential manner with a workover rig along with Kathalchari-NE, or KL-NE, testing.

-Jubilant holds a 20% participating interest in this block through subsidiary Jubilant Oil & Gas Private Limited, India which is also the Operator for the block; GAIL India Limited (532155.BY) holds the balance 80% participating interest.

-Shares of Jubilant Energy on Tuesday closed at 27.5 pence.

-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com

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