Hardy Oil and Gas plc, the oil and gas exploration and production company with assets in India and Nigeria is pleased to announce the spudding of the exploration well GS01-S1 on the GS-OSN-2000/1 (GS-01) exploration licence.
The exploratory well GS01-S1 was spudded at a water depth of 80 metres (m) with the semi-submersible drilling rig "C Kirk Rhein" on 27 April 2008. The well is targeted to drill to 3,975 m TVDRT to explore the hydrocarbon prospectivity of Mio - Oligocene carbonate deposits. The well is located 170 km offshore from the west coast of India in the Saurashtra basin. This is the first of a planned three well drilling programme for 2008 on the GS-01 exploration licence.
Hardy, through its wholly owned subsidiary Hardy Exploration & Production (India) Inc., holds a 10 per cent participating interest (PI) in the GS-01 exploration licence. Reliance Industries Limited is the operator and holds a 90 per cent PI in the block.
This is the third exploration well on this block after the GS01-A1 and B1 wells which were drilled in 2006 and 2007 respectively. On 15 May 2007 the Company announced the discovery of hydrocarbons with the GS01-B1 well which flow tested at a rate of 18.6 mmscfd with 415 stbd of condensate through a 56/64-in. choke with flowing tubing head pressure of 1,346 psi.
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