Spudding Second Exploration Well on D9 Licence

Source: www.gulfoilandgas.com 12/21/2010, Location: Asia

Hardy Oil and Gas plc, the oil and gas exploration and production company focused in India, is pleased to announce the commencement of drilling of the second exploration well on the D9 exploration licence.

The exploration well KG-D9-B3 commenced drilling on 20 December 2010 using the Transocean drillship Discoverer India in a water depth of approximately 2,950 m. The target depth of the well, which aims to explore the hydrocarbon potential of Tertiary aged sands, is 3,830 m MD.

The D9 exploration licence is located in the Krishna Godavari basin on the East Coast of India and covers an area of approximately 11,605 km2. Hardy holds a 10 percent participating interest in the licence which is operated by Reliance Industries Limited. The licence's minimum work programme provides for the drilling of four exploration wells.

Yogeshwar Sharma, Chief Executive Officer of Hardy, commented:

"We are delighted with the commencement of drilling of our second exploration well on this prospective block where a number of promising prospects have been identified. The results of the KG-D9-B3 well are expected in the first quarter of 2011."


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