Jubilant Energy N.V. Drilling Update (7442A)
March 25 2013 - 3:01AM
UK Regulatory
TIDMJUB
RNS Number : 7442A
Jubilant Energy N.V.
25 March 2013
25 March 2013
Jubilant Energy NV
("Jubilant" or "the Company")
Spudding of the second well of Phase-III-Extension Development
Drilling Campaign in oil producing Kharsang Field
Jubilant is pleased to announce that KPL-3E-4, the second well
of the six well Phase-III-Extension development drilling campaign
in the oil producing Kharsang Field, was spudded on 23 March
2013.
KPL-3E-4, located in the north-western area of the field, is
being drilled as an infill development well with the H-00 reservoir
as the primary objective and G-00 reservoir as the secondary
objective. The well will be deviated by approximately 357 metres
towards south-east from the existing plinth of well KSG#27 and will
be drilled to a target depth of approximately 1082 metres Measured
Depth ("MD") and 1,000 metres True Vertical Depth ("TVD"). The well
is expected to take up to three weeks to drill.
The first development well of the current campaign, KSG#65
(previously referred to as KPL-3E-7), which was spudded on 18
February 2013, was successfully drilled to a revised target depth
of 1,145 meters MD and 1,111 metres TVD on 10 March 2013. Based on
the results of wire-line log interpretation, drill cuttings,
side-wall cores and formation pressure data from the Reservoir
Dynamic Tester, nine potentially hydrocarbon bearing sands have
been encountered in the well, a total net pay of 44 metres, out of
which eight appear to be oil bearing. The company will be testing
the first sand and expects to put into production within 2 weeks. A
further announcement will be made in due course regarding the
actual tested rates. The KSG#65 well will be tested with the
smaller capacity work over rig which is currently being mobilized
to site.
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 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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