Jubilant Energy N.V. Successful Test Results (9891F)
May 31 2013 - 3:30AM
UK Regulatory
TIDMJUB
RNS Number : 9891F
Jubilant Energy N.V.
31 May 2013
31 May 2013
Jubilant Energy NV
("Jubilant" or "the Company")
Successful Testing and Production of Third Well of
Phase-III-Extension Development Campaign in the Oil Producing
Kharsang Field
Jubilant is pleased to announce that KSG#67 (previously referred
to as KPL-3E-6), the third 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 75 barrels of oil per
day ("bopd").
KSG#67 was an infill development well in the central part of the
Kharsang Field with the H-00 reservoir sand layer as the primary
objective and G-00 and I-00 reservoir sand layers as secondary
objectives. The well, spud on 20 April 2013, was successfully
drilled to a target depth of 1,050 metres Measured Depth ("MD")
(1,028 metres True Vertical Depth) and completed on 18 May
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 19 metres, out of which 16.4
metres appears to be oil bearing. Detailed testing was carried out
in the deepest oil bearing sand in the interval 992-997 metres,
which commenced from 19 May 2013, and the well is currently
producing at a rate of around 75 bopd on intermittent self flow. An
up-hole potential of approximately 11.4 metres of net oil bearing
sands and 2.6 metres of gas/high GOR oil 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
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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