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29 Jul 2008 07:00
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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,Β is pleased to announce it has successfully drilled and casedΒ theΒ SPF-1 wellΒ as plannedΒ to aΒ totalΒ depth of 3,564m.
Wireline logs indicate the well intersected threeΒ gas bearingΒ reservoir intervalsΒ in the Early Cretaceous Pariwar formation. During initial testing of these zones,Β gas and waterΒ (interpreted as Formation water)Β were produced with gasΒ flaredΒ continuously for 48 hours.Β A 6m interval was intersectedΒ at a depth ofΒ between 3,267-3,273m, a further 8m interval was encountered between 3,226-3,234m andΒ theΒ final 12m intervalΒ at a depth ofΒ between 3,208-3,220m.Β
IndusΒ has aΒ 90% participating interest in the Block and Focus Energy is the operator with a 10% participating interest.Β Β
TheΒ drilling rig will now be moved to the next well location and testingΒ of the SPF-1 wellΒ will continue usingΒ aΒ 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-
Β Β For further information please contact:
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Indus Gas Limited |
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Ajay Kalsi |
CEO |
+44 (0)20Β 7877 0022 |
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John Scott |
CFO |
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Arden Partners plc |
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Richard Day |
+44 (0)20 7398 1600 |
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AdrianΒ Trimmings |
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Pelham PR |
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Philip Dennis |
+44 (0)20 7743 6363 |
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Hugh Barker |
+44 (0)20 3008 5509 |
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