10 January 2012
Jubilant Energy NV
("Jubilant" or "the Company") Successful Flow Test of Third Development Well of the Phase-III Drilling Campaign in Oil Producing Kharsang Field
Jubilant is pleased to announce that KSG#60 (previously known
as KPL-G), the third of the seven phase III development wells
in the Kharsang Field, has successfully flowed oil and gas
from separate horizons, and has put oil into production.
The well KSG#60, spud on 5 October 2011, was successfully
drilled to a target depth of 1,470 metres Measured Depth
("MD") (1,432 metres True Vertical Depth) on 27 November
2011. The well was tested with a smaller capacity work-over
rig which was mobilised on 2 December 2011.
Based on the results of the wireline log interpretation,
drill cutting and coring operations, and formation pressure
data from the Reservoir Dynamic Tester, the consortium
identified twelve sand intervals totalling to approximately
74 metres of net sand for testing. The well flowed oil from
the fourth interval between 1,304-1,310 metres MD from the
Girujan Sand and is currently producing at a rate of
around
125 bopd.
The two deeper sands at 1,432-1,435 metres and 1,400.5
-1,406.5 metres MD tested gas, which flowed at rates of 0.67
mmscfd and 0.78 mmscfd, respectively, through a 4 millimetre
bean.
The third sand in the interval at 1,358-1,362 metres MD
tested water.
The other eight remaining shallower intervals, totalling 55
metres of net sand, will be tested at a later date.
GeoEnpro Petroleum Ltd., a joint venture of GeoPetrol and
Jubilant Enpro (a member of the wider Jubilant Bhartia
Group), is the operator of the Kharsang Field. Jubilant holds
a 25% 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 | Ajay Khandelwal, Vipul Agarwal | +91 120 402 5700 |
Evolution Securities | Neil Elliot | +44 20 7071 4300 |
Deutsche Bank | Rajat Katyal, Drew Price | +44 20 7547 8000 |
College Hill | Nick Elwes, Alexandra Roper | +44 20 7457 2020 |
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