LONDON--Jubilant Energy N.V. (JUB.LN), an oil and gas
exploration and production company, said Friday KSG No.67
[previously 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, or bopd.
MAIN FACTS:
-Well, which spud on April, was successfully drilled to a target
depth of 1,050 meters measured depth, or MD and completed on May
18.
-Mud log shows and formation pressure data from the Reservoir
Dynamic Tester, the Consortium identified total net pay of 19
meters, out of which 16.4 meters appears to be oil bearing.
-Detailed testing was carried out in the deepest oil bearing
sand in the interval 992-997 meters, which started from May 19, and
the well is currently producing at a rate of around 75 bopd on
intermittent self flow.
-An up-hole potential of 11.4 meters of net oil bearing sands
and 2.6 meters of gas/high GOR oil bearing sands have also been
identified in the well.
-Jubilant holds a 25% interest in the block through its
subsidiary, Jubilant Energy (Kharsang) Pvt. Ltd.; other members of
the consortium are Oil India Ltd. and GeoPetrol.
-Jubilant shares in London at 0745 GMT unchanged at 14 pence
valuing the company at 58.28 million pounds.
-Write to Ian Walker at ian.walker@dowjones.com
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