Jubilant Energy N.V. Successful Test Results (0837F)
May 20 2013 - 2:08AM
UK Regulatory
TIDMJUB
RNS Number : 0837F
Jubilant Energy N.V.
20 May 2013
20 May 2013
Jubilant Energy NV
("Jubilant" or "the Company")
Successful Testing and Production of Second Well of
Phase-III-Extension Development Campaign in the Oil Producing
Kharsang Field
Jubilant is pleased to announce that KSG#66 (previously referred
to as KPL-3E-4), the second of the six development wells of the
Phase-III-Extension drilling campaign in the Kharsang Field,
Arunachal Pradesh, has successfully tested for oil and has been put
into production at an initial gross rate of 81 barrels of oil per
day ("bopd").
KSG#66 was an infill development well in the north-western part
of the Kharsang Field with the H-00 reservoir sand layer as the
primary objective and G-00 reservoir sand layers as secondary
objectives. The well, spud on 23 March 2013, was successfully
drilled to a target depth of 1,128 metres Measured Depth ("MD")
(1,048 metres True Vertical Depth) and completed on 25 April
2013.
Based on the wireline log interpretation, mud log shows and
formation pressure data from the Reservoir Dynamic Tester, the
Consortium identified total net pay of 50.31 metres, out of which
30.33 metres appears to be oil bearing. Detailed testing was
carried out in the deepest oil bearing sand interval 1024.5-1028
metres, which commenced from 26 April 2013, and the well is
currently producing at a rate of around 81 bopd on artificial lift.
An up-hole potential of approximately 26.83 metres of net oil
bearing sands and 19.98 metres of gas bearing sands have also been
identified in the well.
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
David Simonson, 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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