LONDON--Jubilant Energy N.V. (JUB.LN), an oil and gas
exploration and production company, said Friday 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.
MAIN FACTS:
-North Atharamura-1 is the second exploratory well of the two
well Phase-II minimum work program for the Block; well was spud on
Feb. 12 and reached a measured depth, or MD, of 3,400 meters on May
17.
-Gross Lower Bhuban sand in the 2,175-2,195 meters 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.
-Testing operation for Object-I started May 22 and the same was
perforated on May 25.
-Cement Bond logs and variable density logs showed poor to
moderate cementation against this sand interval with a possible
water leg below 2,195 meters MD.
-Object-II in the 610-625 meters 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.
-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 inch choke
size.
-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 Ltd., India
which is also the Operator for the block; GAIL India Ltd.
(532155.BY) holds the remaining 80% participating interest.
-Jubilant shares in London at 0750 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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