Hindustan Oil Says PRS-4 a Dry Hole

Hindustan Oil Exploration reports that the PRS-4 exploratory well drilled to a depth of 2150 m NE of Pramoda development area, up-dip of Palej-4 well, encountered only a thin very tight sand with non commercial oil shows and the well has been plugged and abandoned. The well is located in Block C-ON/7 in the onshore Cambay Basin in India.

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."