Commencement of Drilling (1821E)
May 28 2012 - 2:00AM
UK Regulatory
TIDMJUB
RNS Number : 1821E
Jubilant Energy N.V.
28 May 2012
28 May 2012
Jubilant Energy NV
("Jubilant" or "the Company")
Jubilant spuds the Matabari-1 Exploration well in the southern
part of the Tripura block
Jubilant is pleased to announce that the Matabari-1 well was
spudded on 25 May, 2012 in the Tripura block. This is the
firstexploratory well to be drilled under Exploration Phase-II in
the block. The well is located 3.3 kilometres east-southeast and
up-dip from the Phase-I exploratory well Kathalchari-1 and 5.5
kilometres southeast and up-dip of the second Phase-I appraisal
well KL-NE.
The Matabari-1 will be a vertical well, planned to be drilled to
a total depth of 4,070 metres Measured Depth ("MD") and is
estimated to take approximately four months to drill.
Matabari-1 is proposed to explore the hydrocarbon potential of
the Lower Miocene Lower Bhuban and Late Oligocene Renji sands as
primary objectives and the Middle Bhuban sands as a secondary
objective.This will be the first exploratory well in the Block
targeting deeper objectives beyond the Middle Bhuban.
The second appraisal well to the Kathalchari-1 discovery, KL-NE,
spudded on 21 February 2012, was drilled to a depth of 3,200 metres
MD compared to a planned target depth of 2,990 metres MD. Based on
mud log and petrophysical interpretations, seven gas bearing sand
intervals of interest, including the Kathalchari discovery
equivalent sands, have been identified in the Middle Bhuban
formation in this well, totalling approximately 146 metres gross
thickness. Jubilant is now planning to test these zones in a
sequential manner with a work-over rig, expected to commence in
June 2012. A further announcement will be made subsequent to the
completion of 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 remaining 80% participating interest.
Enquiries:
Ajay Khandelwal, Vipul
Jubilant Energy Agarwal +91 120 4025700
Panmure Gordon Katherine Roe, Adam James +44 20 7459 3600
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
Mr Ramesh Bhatia, Vice President (Exploration), holds a Master's
of Science degree in Applied Petroleum Geology and has over 20
years of experience in the Oil and Gas Exploration, Development 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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