Jubilant Energy N.V. Drilling Update (9895F)
May 31 2013 - 3:30AM
UK Regulatory
TIDMJUB
RNS Number : 9895F
Jubilant Energy N.V.
31 May 2013
31 May 2013
Jubilant Energy NV
("Jubilant" or "the Company")
Drilling Update and Submission of Notice of Discovery in Lower
Bhuban Formation in North Atharamura-1 Well, Tripura Block
Jubilant is pleased to announce that subsequent to the
successful conventional testing in the Lower Bhuban formation in
the North Atharamura-1 well in Tripura Block AA-ONN-2002/1, a
Notice of Discovery has been submitted to the Management Committee
of the Block and Government of India, as required by the Production
Sharing Contract.
North Atharamura-1 is the second exploratory well of the two
well Phase-II minimum work programme for the Block. The well was
spud on 12 Feb 2013 and reached a Measured Depth ("MD") of 3,400
metres on 17 May 2013.
Based on the available information from drilling, mud logs and
wire-line open-hole and cased-hole data, two Objects were selected
for conventional testing to establish the presence of producible
Non-Associated Natural Gas. The gross Lower Bhuban sand in the
2,175-2,195 metres interval ("Object-I") appeared promising on the
logging-while-drilling logs and the presence of hydrocarbons was
further validated by cased-hole porosity and sonic logs. The
testing operation for Object-I commenced on 22 May 2013 and the
same was perforated on 25 May 2013. Cement Bond logs and variable
density logs showed poor to moderate cementation against this sand
interval with a possible water leg below 2,195 metres MD. Object-II
in the 610-625 metres MD Middle Bhuban sand interval is yet to be
tested.
Object-I flowed gas with some water, which, in all likelihood,
is from the water leg due to poor cementation. The gas rate was
measured as 3,240-3,777 standard cubic feet per day and water rate
as 445-918 barrels per day at 32/64" choke size. The multi bean
study for flow rate has not been conducted yet.
Jubilant holds a 20% participating interest in this block
through its subsidiary Jubilant Oil & Gas Private Limited,
India which is also the Operator for the block. GAIL India Limited
holds the remaining 80% participating interest.
Enquiries:
Jubilant Energy Vipul Agarwal +91 120 4025700
Panmure Gordon Callum Stewart, Adam James +44 20 78862500
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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