Hardy to P&A GS01-S1 Well in India

Hardy Oil and Gas plc has announced an update with respect to its GS-01 block in India.

The exploratory well GS01-S1 was drilled to a total depth of 3,985 m TVDRT on the western shelf edge of the block to explore the Oligocene reefal carbonate and Eocene platform carbonate build-up. While there was porosity development in the reefal carbonates, no hydrocarbons were found. The well has now been plugged and abandoned.

The Company will continue to focus on further drilling for the appraisal of the  Dhirubhai 33 (GS01-B1) discovery.

The exploration program continues on the block with the GS01-M1 prospect to explore Oligocene reefal carbonate and Eocene platform carbonate build-up which  is presently drilling.

Hardy, through its wholly owned subsidiary Hardy Exploration & Production (India) Inc., holds a 10% participating interest in the GS-01 exploration license. Reliance Industries Limited is the Operator and holds a 90% participating interest in the block.

Commenting on the update, Sastry Karra, Chief Executive of Hardy said, "GS-01 continues to be an important part of the Company's exploration portfolio in India. We look forward to completing our exploration program and the appraisal of the existing Dhirubhai 33 discovery on the GS-01 block."