Jubilant Energy N.V. Drilling Update (9623K)
August 05 2013 - 7:09AM
UK Regulatory
TIDMJUB
RNS Number : 9623K
Jubilant Energy N.V.
05 August 2013
5 August 2013
Jubilant Energy NV
("Jubilant" or "the Company")
Spudding of the Sixth Well of Phase-III-Extension Development
Drilling Campaign in the Oil Producing Kharsang Field
Jubilant is pleased to announce that KPL-3E-5, the sixth and
last well of the Phase-III-Extension development drilling campaign
in the oil producing Kharsang Field, was spudded on 2 August
2013.
KPL-3E-5, located in the northern part of the field, is being
drilled as an infill development well between KSG#22 and KSG#42,
with the D-00 reservoir sand layer as primary objective, and the
G-00 sand layers as secondary objectives. The well is planned to
deviate by approximately 318.5 metres to the west from the existing
plinth of the well KSG#42, and will be drilled to a target depth of
approximately 1,015 metres Measured Depth("MD"), and 950 metres
True Vertical Depth ("TVD").
The fifth development well of the current campaign, KSG#69
(previously referred to as KPL-3E-1), which was spudded on 24 June
2013, was successfully drilled to a revised target depth of 1,563.6
metres MD, and 1,358.4 metres TVD. Formation evaluation is in
progress for this well, using the results of wire-line logs, drill
cuttings and formation pressure data from the Reservoir Dynamic
Tester. The consortium will be testing the hydrocarbon bearing
sands and expects to put the deepest oil-bearing sand in production
soon. The KSG#69 well will be tested with a smaller capacity
work-over rig, which will be mobilized to the site shortly. A
further release will follow regarding the actual test results.
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'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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