Jubilant Energy N.V. Drilling Update (0836F)
May 20 2013 - 2:08AM
UK Regulatory
TIDMJUB
RNS Number : 0836F
Jubilant Energy N.V.
20 May 2013
20 May 2013
Jubilant Energy NV
("Jubilant" or "the Company")
Spudding of the Fourth Well of Phase-III-Extension Development
Drilling Campaign in the Oil Producing Kharsang Field
Jubilant is pleased to announce that KPL-3E-2, the fourth well
of the six well Phase-III-Extension development drilling campaign
in the oil producing Kharsang Field, was spudded on 17 May
2013.
KPL-3E-2, located in the southern part of the field, located
down-dip with respect to KSG#54 and KSG#55, is being drilled as an
infill development well with the S-00 reservoir sand layer as
primary objective and M-00, Q-00 and T-00 sand layers as secondary
objectives. The well is planned to be deviated by approximately 589
metres to the south-east from well KSG#6 and will be drilled to a
target depth of approximately 1,580 metres Measured Depth("MD") and
1,450 metres True Vertical Depth ("TVD").
The third development well of the current campaign, KSG#67
(previously referred to as KPL-3E-6), which was spudded on 20 April
2013, was successfully drilled to a revised target depth of 1,050
meters MD and 1,028 metres TVD on 2 May 2013. Based on the results
of wire-line log interpretation, drill cuttings and formation
pressure data from the Reservoir Dynamic Tester, four potentially
hydrocarbon bearing sands have been encountered in the well with a
total net pay of 19 metres, out of which three appear to be oil
bearing with a total net pay of 16.4 metres. The company will be
testing the sands and, assuming positive test results, expects to
put the deepest oil-bearing sand on production soon. A further
release will follow regarding the actual tested rates. The KSG#67
well will be tested with the smaller capacity work-over rig, which
has already been mobilized to the 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 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'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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