9 January 2012
Jubilant Energy NV
("Jubilant" or "the Company")
Jubilant completes drilling of the Srikantabari Appraisal well in the southern part of the Tripura block
Jubilant is pleased to announce the completion of the
Srikantabari Appraisal well (S-1) which was spud on 18 July
2011.
The S-1 well was drilled to appraise Kathalchari-1 discovery
well with the primary objective of evaluating the Middle
Bhuban reservoir sands tested in Kathalchari-1. The well was
drilled to a depth of 2,973 metres Measured Depth ("MD")
compared to the planned target depth of 3,323 metres MD.At
2,972 metres MD, a gas kick was witnessed while drilling
which recorded a maximum gas of
48.9%. Due to well control considerations (a loss-gain
situation) the drilling was terminated at
2973metres MD and Jubilant will now test the sands
encountered while drilling. A gas kick was also observed at
2,781 metres MD.
Based on the interpretation of the sub-surface data including
mudlogs, Dipole Shear Sonic Imager (DSI) log, Logging While
Drilling (LWD) logs and Wireline logs, five zones of interest
have been identified for testing within the Middle Bhuban
formation. Gross thickness of the five identified zones for
testing is about 92.5 metres.
Jubilant is now planning to test these five zones in a
sequential manner, either with the same rig or with a
workover rig. It is likely that the current rig may be moved
to drill another appraisal well and in that case after
testing of the first zone, the other zones will be tested
through a workover rig.
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 balance
80% participating interest.
"We are very pleased with the indications on the completion of the S-1 well. We believe that the five zones we have identified look very interesting and the gas kicks that we witnessed certainly provide us with further encouragement as to the potential that these zones may contain. We look forward to providing further updates as we test these zones."
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 |
Maxwell Birley, BSc in Geological Geophysics, the Company's Chief Operating Officer, has 30 years of international experience in the exploration 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.
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Completion of drilling of the Srikantabari Appraisal well in the southern part of the Tripura Block..+ |