Jubilant Energy N.V. Drilling Update (1694Y)
February 19 2013 - 2:01AM
UK Regulatory
TIDMJUB
RNS Number : 1694Y
Jubilant Energy N.V.
19 February 2013
19 February, 2013
Jubilant Energy NV
("Jubilant" or "the Company")
Spudding of the first well of Phase-III-Extension development
drilling campaign in oil producing Kharsang Field
Jubilant is pleased to announce the spudding of well KPL-3E-7 on
18 February 2013. This is the first of the planned six well
Phase-III-Extension development drilling campaign in the oil
producing Kharsang Field, Arunachal Pradesh. The
Phase-III-Extension campaign was approved by the Management
Committee of the Kharsang Field in January, 2013 after the
conclusion of a successful seven well Phase-III drilling campaign
undertaken between July, 2011 and August, 2012. Six of the seven
wells in the Phase-III campaign have been put into production and
currently contribute approximately 700 barrels of oil per day. One
further well tested positively for gas and has been held for future
gas production, as it is commercially viable.
KPL-3E-7, located in the north-western area of the field, to the
west of well KSG#61 and south-east of well KSG#16, is being drilled
as an infill development well, with the H-00 reservoir sand layer
as the primary objective and G-00 and D-00 sand layers as secondary
objectives. The well will be deviated by approximately 188 metres
to the south-east from the existing plinth of well KSG#16 and will
be drilled to a target depth of approximately 1,032 metres Measured
Depth ("MD") and 1,000 metres True Vertical Depth ("TVD"). The well
is expected to take approximately three weeks to drill.
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 the block through its subsidiary, Jubilant Energy
(Kharsang) Pvt. Ltd. The other members of the consortium are Oil
India Ltd. and GeoPetrol.
Enquiries:
Jubilant Energy Vipul Agarwal +91 120 4025700
Panmure Gordon Callum Stewart, Adam James +44 20 7886 2500
Deutsche Bank Rajat Katyal, 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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