LONDON--Jubilant Energy N.V. (JUB.LN), an oil and gas
exploration and production company, said Monday 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 March 23.
MAIN FACTS:
-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.
-Well will be deviated by 357 meters towards south-east from the
existing plinth of well KSG No.27 and will be drilled to a target
depth of 1082 meters Measured Depth, or MD, and 1,000 meters True
Vertical Depth, or TVD.
-Well is expected to take up to three weeks to drill.
-First development well of the current campaign, KSG No.65
[previously referred to as KPL-3E-7], which was spudded on Feb. 18,
was successfully drilled to a revised target depth of 1,145 meters
MD and 1,111 meters TVD on March 10.
-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
meters, out of which eight appear to be oil bearing.
-Company will be testing the first sand and expects to put into
production within two weeks.
-Shares at 0925 GMT up 1 pence, or 4.29%, at 18 pence valuing
the company at 72.85 million pounds.
-Write to Ian Walker at ian.walker@dowjones.com
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