LONDON (Alliance News) - Hardy Oil & Gas PLC Thursday said it is moving forward with operations at its D3 block off the east coast of India.
The oil and gas exploration and production company, with assets in India, said it has undertaken various geophysical studies of the site and has received a Declaration of Commerciality for gas discoveries in the block with the Government of India.
The company said its joint venture at the D3 block is seeking a 12 month extension for the licence at the site, until the end of 2014. hardy said that exploration drilling is expected to recommence in 2014.
Hardy Oil also said it plans to complete discussions with its joint venture partner to increase Hardy's interest in the GS-01 block off the west-coast of India.
The company said its short term investments and cash at the end of September amounted to USD26.4 million.
Hardy Oil & Gas shares were down 4.0% 97.00 pence Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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