LONDON--Jubilant Energy N.V. (JUB.LN) announced Wednesday that
the North Atharamura-1 well in the Tripura block was spudded on
Feb. 12, saying it expects it will take four months to drill the
vertical well to its target depth of 4,000 meters.
MAIN FACTS:
-This is the second exploratory well to be drilled under
Exploration Phase-II and the first of Phase-II to be drilled on the
Atharamura anticline.
-Well will explore the hydrocarbon potential of supra-thrust
Middle Bhuban and Lower Bhuban sands and sub-thrust Lower Bhuban,
Renji and Jenam sands. This will be the first exploratory well in
the Block targeting deeper objectives beyond the Middle Bhuban in
the Atharamura anticline.
-Jubilant holds a 20% participating interest in the block
through its subsidiary Jubilant Oil & Gas Private Ltd., India
which is also the operator; GAIL India Ltd. holds the remaining
80%
-Jubilant shares at 1205 GMT down 2% in London at 19 pence
valuing the company at GBP79 million.
-Write to Ed Ballard at ed.ballard@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires