Last checked at 29 Jul 2008 07:00
For Immediate Release 29 July 2008
Indus Gas Limited
("Indus" or "the Company")
SPF-1 Well Successfully Drilled and Cased
Indus Gas Limited (AIM: INDI.L), an oil & gas exploration and development company based in India, is pleased to announce it has successfully drilled and cased the SPF-1 well as planned to a total depth of 3,564m.
Wireline logs indicate the well intersected three gas bearing reservoir intervals in the Early Cretaceous Pariwar formation. During initial testing of these zones, gas and water (interpreted as Formation water) were produced with gas flared continuously for 48 hours. A 6m interval was intersected at a depth of between 3,267-3,273m, a further 8m interval was encountered between 3,226-3,234m and the final 12m interval at a depth of between 3,208-3,220m.
Indus has a 90% participating interest in the Block and Focus Energy is the operator with a 10% participating interest.
The drilling rig will now be moved to the next well location and testing of the SPF-1 well will continue using a workover rig.
In accordance with AIM Guidelines, Paul Fink, Technical Consultant, a Geophysicist who holds an engineering degree from the Mining University of Leoben, Austria and has 18 years of industry experience is the qualified person that has reviewed the technical information contained in this press release.
-ENDS-
For further information please contact:
| Indus Gas Limited | ||
| Ajay Kalsi | CEO | +44 (0)20 7877 0022 |
| John Scott | CFO | |
| Arden Partners plc | ||
| Richard Day | +44 (0)20 7398 1600 | |
| Adrian Trimmings | ||
| Pelham PR | ||
| Philip Dennis | +44 (0)20 7743 6363 | |
| Hugh Barker | +44 (0)20 3008 5509 |