Last checked at 25 Nov 2013 07:49
For Immediate Release 25 November 2013
Indus Gas Limited
("Indus" or "the Company")
Operations Update
Indus Gas Limited (AIM:INDI.L), an oil and gas exploration and development company with assets in India, is pleased to announce progress on the following matters concerning the RJ-ON/6 Block.The Company has submitted a Declaration of Commerciality ("DOC") request for approximately 2,000 square kilometres in the Western half of the RJ-ON/6 Block in respect of gas discovered to date as previously reported on 26th February 2013.At a Board Meeting last week, the Board ratified a new term debt facility of US$180mn and further details will be released in due course.
Following submission of the "DOC", and in line with previously announced drilling plans, additional resources have been deployed to well testing since the publication of the Annual Report. Initial results have been positive and further details will follow on completion of thetesting programme.
As announced on 30th September 2013, John Scott has rejoined the Board as Chief Financial Officer with effect from 25th November 2013.
-ENDS-
For further information please contact:
Indus Gas Limited | ||
Peter Cockburn (c/o Arden Partners) | +44 (0)20 7614 5917 | |
Arden Partners plc | ||
Richard Day | +44 (0)20 7614 5917 | |
Bell Pottinger PR | ||
Philip Dennis | +44 (0)20 7861 3919 | |
Elena Dobson | +44 (0) 20 7861 3147 | |