Well PRD-2 [development well drilled for the development of the S3 sand in Pramoda development area] has encountered a new hydrocarbon bearing sand (S4). Testing of S4 sand interval resulted in flow of crude oil at an initial test rate of 90 m3 /d [565 barrels per day] and gas at ~ 0.18 million cubic feet per day through 6 mm bean with a flowing pressure of 754 psi . The Company is currently moving ahead with testing S3 sand.
HOEC is Operator of the Block with 50% participating interest in exploration and 35% participating interest in Pramoda development area."
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