Jubilant Energy N.V. Manipur Resources Update (1639W)
January 23 2013 - 2:00AM
UK Regulatory
TIDMJUB
RNS Number : 1639W
Jubilant Energy N.V.
23 January 2013
Jubilant Energy N.V.
23 January 2013
Jubilant Energy N.V.
("Jubilant" or "the Company")
Resources Update and Publication of Resource Assessment for
Jubilant's Two Manipur Blocks
Jubilant is pleased to announce a significant upward revision in
its Prospective Resources for the two Manipur Blocks, viz.,
AA-ONN-2009/1 (Manipur south) and AA-ONN-2009/2 (Manipur north)
located in the Assam-Arakan Basin, onshore eastern India. The
Resources Assessment for the two Blocks, estimated by Gaffney Cline
& Associates ("GCA") gives the appraisal as at 31st March 2012,
which updates the previous assessment as at 30 June 2010.
Based on surface geology mapping and structural geology
reconstructions, seven structural features have been identified in
the two blocks. Oinamlong and Nungba are located in the north
block, Kharkublen straddles both blocks and Parbung, Pherzawl,
South Songsan and Songtal are located in the south block. Three of
the features, viz., Oinamlong, Nungba and Parbung, have been high
graded as prospects as there are plans to drill these wells in the
near future and preparations to drill are underway. The rest are
considered leads and will mature into prospects once they are
included in the firm drilling plans and preparations for drilling
of the wells have been undertaken.
The table below summarises the Gross (100%) Un-risked
Prospective Gas Resources for the various prospects and leads at
different potential reservoir levels in the two blocks:
MANIPUR BLOCKS (AA-ONN-2009/1 & AA-ONN-2009/2)
GROSS UN-RISKED PROSPECTIVE RESOURCES (BSCF) AS AT 31st March,
2012
Prospect/Lead Reservoir Low Estimate Best Estimate High Estimate GCoS
Name
-------------------- --------------- ------------- -------------- -------------- -----
Oinamlong Prospect Lower Bhuban 45 223 765 16%
-------------------- --------------- ------------- -------------- -------------- -----
Oinamlong Prospect Renji 222 1,274 4,857 20%
-------------------- --------------- ------------- -------------- -------------- -----
Oinamlong Prospect Upper Jenam 134 790 3,075 15%
-------------------- --------------- ------------- -------------- -------------- -----
Parbung Prospect Lower Bhuban 46 231 791 18%
-------------------- --------------- ------------- -------------- -------------- -----
Parbung Prospect Renji 148 849 3,234 18%
-------------------- --------------- ------------- -------------- -------------- -----
Parbung Prospect Upper Jenam 117 693 2,697 17%
-------------------- --------------- ------------- -------------- -------------- -----
Nungba Prospect Laisong 18 113 425 12%
-------------------- --------------- ------------- -------------- -------------- -----
Nungba Prospect Upper Disang 5 29 117 9%
-------------------- --------------- ------------- -------------- -------------- -----
Kharkublen Lead Lower Bhuban 66 329 1,131 16%
-------------------- --------------- ------------- -------------- -------------- -----
Kharkublen Lead Renji 115 663 2,526 18%
-------------------- --------------- ------------- -------------- -------------- -----
Kharkublen Lead Upper Jenam 49 288 1,121 13%
-------------------- --------------- ------------- -------------- -------------- -----
Pherzawl Lead Renji 67 384 1,465 16%
-------------------- --------------- ------------- -------------- -------------- -----
Pherzawl Lead Upper Jenam 61 363 1,411 13%
-------------------- --------------- ------------- -------------- -------------- -----
Pherzawl Lead Laisong 12 75 298 14%
-------------------- --------------- ------------- -------------- -------------- -----
South Songsang
Lead Renji 26 148 562 8%
-------------------- --------------- ------------- -------------- -------------- -----
South Songsang
Lead Upper Jenam 48 287 1,115 8%
-------------------- --------------- ------------- -------------- -------------- -----
Songtal Lead Lower Laisong 23 145 542 10%
-------------------- --------------- ------------- -------------- -------------- -----
Songtal Lead Upper Disang 33 204 815 8%
-------------------- --------------- ------------- -------------- -------------- -----
Notes:
1. Resources have been estimated for volumes within the
boundaries of the licences only
2. Volumes are un-risked; the respective GCoS have not been
applied.
3. The Aggregation of Prospective Resources is not appropriate
due to mathematical dependency
4. The figures presented in this table must be considered only
in the light of comments contained in the
GCA report of which this table forms an integral part.
The complete GCA report can be viewed in the Jubilant website
www.jubilantenergy.com. The GCA report also contains a glossary of
the standard oil industry terms and abbreviations.
The two tables below provide a summary of the Gross (100%)
Un-risked Prospective Resources of the two blocks estimated by GCA
as at 30th June 2010:
MANIPUR SOUTH BLOCK (AA-ONN-2009/1)
GROSS UN-RISKED PROSPECTIVE RESOURCES AS AT 30TH JUNE, 2010
Lead Name UN-RISKED PROSPECTIVE RESOURCES
(BSCF)
------------------- ---------------------------------------------- ---------
Low Estimate Best Estimate High Estimate GCoS (%)
------------------- -------------- -------------- -------------- ---------
Abin/KharkubIen
Anticline - 800.0 - 12
------------------- -------------- -------------- -------------- ---------
Taithu Anticline - 1,200.0 - 12
------------------- -------------- -------------- -------------- ---------
Sailman Anticline - 500.0 - 12
------------------- -------------- -------------- -------------- ---------
Leimata Anticline - 380.0 - 12
------------------- -------------- -------------- -------------- ---------
MANIPUR NORTH BLOCK (AA-ONN-2009/2)
GROSS UN-RISKED PROSPECTIVE RESOURCES AS AT 30TH JUNE, 2010
Lead Name UN-RISKED PROSPECTIVE RESOURCES
(BSCF)
---------------------- ---------------------------------------------- ---------
Low Estimate Best Estimate High Estimate GCoS (%)
---------------------- -------------- -------------- -------------- ---------
Kharkublen Anticline - 630.0 - 12
---------------------- -------------- -------------- -------------- ---------
Oniamlong Anticline - 1,260.0 - 12
---------------------- -------------- -------------- -------------- ---------
GCA has estimated Prospective Resources using the Petroleum
Resources Management System published by the Society of Petroleum
Engineers/ World Petroleum Council/ American Association of
Petroleum Geologists/ Society of Petroleum Evaluation Engineers
(SPE/WPC/AAPG/SPEE) in March 2007 ("SPE PRMS").
Jubilant holds a 100% participating interest in this block
through its Indian subsidiary Jubilant Oil & Gas Private
Limited (47% PI), which is also the operator for the block,
Jubilant Offshore Drilling Private Limited (36% PI) and Jubilant
Energy (Kharsang) Private Limited (17% PI).
Enquiries:
Ajay Khandelwal, Vipul
Jubilant Energy Agarwal +91 120 4025700
Katherine Roe, Adam
Panmure Gordon James +44 20 7886 2500
Rajat Katyal, Drew
Deutsche Bank Price +44 20 7547 8000
Matthew Tyler, 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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