Drilling Update (5738E)
June 01 2012 - 2:00AM
UK Regulatory
TIDMJUB
RNS Number : 5738E
Jubilant Energy N.V.
01 June 2012
1 June 2012
Jubilant Energy NV
("Jubilant" or "the Company")
Spudding of seventh well of Phase-III development campaign in
Oil Producing Kharsang Field
Jubilant is pleased to announce that KPL-B, the final well of
the seven well Phase-III development drilling campaign in the oil
producing Kharsang Field, Arunachal Pradesh was spudded on 31 May
2012.
KPL-B, located in the southern area of the field to the
south-west of well KSG#55 and north-west of KSG#62, is being
drilled with a primary objective of appraising the S-00 reservoir
sands and a secondary objective of appraising the M-00 and T-00
sand layers. The well will be deviated by approximately 686 metres
to the south from the existing plinth of well KSG#40 and will be
drilled to a target depth of approximately 1,400 metres True
Vertical Depth ("TVD"). The well is expected to take up to five
weeks to drill.
The sixth development well, KSG#63 (previously referred to as
KPL-E) was planned to be drilled to a depth of 1,522 metres
Measured Depth ("MD")/ 1,400 metres TVD, but due to well
complications, it had to be sidetracked twice after drilling to a
depth of 956 metres MD and 1,517 metres MD, respectively. The well
was completed on 13 May 2012 at a depth of 1,128 metres MD (1,048
metres TVD). Based on the results of the wireline log
interpretation and mud log shows, the primary objective of the M-00
sands have been encountered in the well and were in line with
expectations. The KSG#63 well will be tested with the smaller
capacity work-over rig, which is expected to be mobilized soon. The
testing is expected to take approximately three weeks.
GeoEnpro Petroleum Ltd., a joint venture between GeoPetrol and
Jubilant Enpro (a member of the wider Jubilant Bhartia Group), is
the operator of the Kharsang Field. Jubilant holds a 25 percent
interest in block through its subsidiary, Jubilant Energy
(Kharsang) Pvt. Ltd. The other members of the consortium are Oil
India Ltd. and GeoPetrol.
Enquiries:
Jubilant Energy Ajay Khandelwal, Vipul Agarwal +91 120 4025700
Panmure Gordon Katherine Roe, Adam James +44 20 7459 3600
Deutsche Bank Rajat Katyal, Drew Price +44 20 7547 8000
College Hill Nick Elwes, Alexandra 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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