Jubilant Energy N.V. Submission of Declaration of Commerciality, KG (0720Y)
February 18 2013 - 2:00AM
UK Regulatory
TIDMJUB
RNS Number : 0720Y
Jubilant Energy N.V.
18 February 2013
18 February 2013
Jubilant Energy NV
("Jubilant" or "the Company")
Submission of Declaration of Commerciality for KG-OSN-2001/3
Block, Krishna Godavari Basin
Jubilant is pleased to announce that on 15(th) February 2013,
Gujarat State Petroleum Corporation Limited ("GSPC") as Operator of
the KG-OSN-2001/3 Block, Krishna Godavari basin, submitted a
commerciality analysis report on behalf of the consortium members
on the six natural gas discoveries within the block, namely, KG-16
in DDE area, KG-22 in DDN area, KG-21 & KG-31 in DDW-DT area,
KG-19 and KG-20SS in DDNE-BRU area to the Directorate General of
Hydrocarbons, India. This submission has been supported by all
necessary technical and economic data, evaluation, interpretation
and analysis of data and feasibility studies relating to the
discoveries and other relevant information. The above discoveries
exclude the Dean Dayal West ("DDW") and DDW Extension areas.
Jubilant holds a 10% participating interest in this block
through its subsidiary Jubilant Offshore Drilling Private Limited
in India. GSPC holds an 80% participating interest and is the
operator for the block. GeoGlobal Resources Inc. holds 10%.
Enquiries:
Jubilant Energy Vipul Agarwal +91 120 4025700
Panmure Gordon Callum Stewart, Adam James +44 20 7886 2500
Deutsche Bank RajatKatyal, Drew Price +44 20 7547 8000
Matthew Tyler, Alexandra
College Hill Roper +44 20 7457 2020
Competent Person's Consent for Release
Mr Ramesh Bhatia - Chief Operating Officer, 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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