Oilex Provides Drilling Update in India

Fields of Cambay
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India - Bhandut PSC - Bhandut-2Z:

The Bhandut-2Z sidetrack well has been suspended and the rig has been released. Operations on Bhandut Field will resume when new well locations have been approved and built, by which time the new data acquired from Bhandut-2Z will have been fully integrated into the interpretation of the 3D seismic data set.

India - Cambay PSC - Drilling Program:

The newly built rig that has been contracted for a 9-month term to drill the Cambay wells has arrived in India and is now in the process of clearing formal procedures and mobilizing to the location of Cambay-23Z. This rig has significantly greater capacity to drill high angle deviated wells and wells to a greater depth, both of which functions are required at Cambay Field and will be very beneficial to the future drilling program on Bhandut Field for deeper targets and long reach production wells.

The Cambay-23Z well is located to test Oligocene and Eocene potential gas-bearing sandstone reservoirs. The deeper Eocene interval has an apparent direct hydrocarbon indicator of gas associated with it at this location. Cambay-23Z is the first of 6 wells on Cambay Field that are approved for the next phase of drilling.

Participants in the Bhandut Production Sharing Contract are Oilex as the operator with 40% interest and Gujarat State Petroleum Corporation with 60% interest.

Participants in the Cambay Production Sharing Contract are Oilex as the operator with 45% interest and Gujarat State Petroleum Corporation with 55%.


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