Sign In
23 Jan 2013 07:00
Jubilant Energy N.V.
23 January 2013
Jubilant Energy N.V.
("Jubilant" or "the Company")
Resources Update and Publication of Resource Assessment for Jubilant's Two Manipur Blocks
Jubilant is pleased to announce a significant upward revision in its Prospective Resources for the two Manipur Blocks, viz., AA-ONN-2009/1 (Manipur south) and AA-ONN-2009/2 (Manipur north) located in the Assam-Arakan Basin, onshore eastern India. The Resources Assessment for the two Blocks, estimated by Gaffney Cline & Associates ("GCA") gives the appraisal as at 31st March 2012, which updates the previous assessment as at 30 June 2010.
Based on surface geology mapping and structural geology reconstructions, seven structural features have been identified in the two blocks. Oinamlong and Nungba are located in the north block, Kharkublen straddles both blocks and Parbung, Pherzawl, South Songsan and Songtal are located in the south block. Three of the features, viz., Oinamlong, Nungba and Parbung, have been high graded as prospects as there are plans to drill these wells in the near future and preparations to drill are underway. The rest are considered leads and will mature into prospects once they are included in the firm drilling plans and preparations for drilling of the wells have been undertaken.
The table below summarises the Gross (100%) Un-risked Prospective Gas Resources for the various prospects and leads at different potential reservoir levels in the two blocks:
MANIPUR BLOCKS (AA-ONN-2009/1 & AA-ONN-2009/2)
GROSS UN-RISKED PROSPECTIVE RESOURCES (BSCF) AS AT 31st March, 2012
Prospect/Lead Name | Reservoir | Low Estimate | Best Estimate | High Estimate | GCoS |
Oinamlong Prospect | Lower Bhuban | 45 | 223 | 765 | 16% |
Oinamlong Prospect | Renji | 222 | 1,274 | 4,857 | 20% |
Oinamlong Prospect | Upper Jenam | 134 | 790 | 3,075 | 15% |
Parbung Prospect | Lower Bhuban | 46 | 231 | 791 | 18% |
Parbung Prospect | Renji | 148 | 849 | 3,234 | 18% |
Parbung Prospect | Upper Jenam | 117 | 693 | 2,697 | 17% |
Nungba Prospect | Laisong | 18 | 113 | 425 | 12% |
Nungba Prospect | Upper Disang | 5 | 29 | 117 | 9% |
Kharkublen Lead | Lower Bhuban | 66 | 329 | 1,131 | 16% |
Kharkublen Lead | Renji | 115 | 663 | 2,526 | 18% |
Kharkublen Lead | Upper Jenam | 49 | 288 | 1,121 | 13% |
Pherzawl Lead | Renji | 67 | 384 | 1,465 | 16% |
Pherzawl Lead | Upper Jenam | 61 | 363 | 1,411 | 13% |
Pherzawl Lead | Laisong | 12 | 75 | 298 | 14% |
South Songsang Lead | Renji | 26 | 148 | 562 | 8% |
South Songsang Lead | Upper Jenam | 48 | 287 | 1,115 | 8% |
Songtal Lead | Lower Laisong | 23 | 145 | 542 | 10% |
Songtal Lead | Upper Disang | 33 | 204 | 815 | 8% |
Notes:
1. Resources have been estimated for volumes within the boundaries of the licences only
2. Volumes are un-risked; the respective GCoS have not been applied.
3. The Aggregation of Prospective Resources is not appropriate due to mathematical dependency
4. The figures presented in this table must be considered only in the light of comments contained in the
GCA report of which this table forms an integral part.
The complete GCA report can be viewed in the Jubilant website www.jubilantenergy.com. The GCA report also contains a glossary of the standard oil industry terms and abbreviations.
The two tables below provide a summary of the Gross (100%) Un-risked Prospective Resources of the two blocks estimated by GCA as at 30th June 2010:
MANIPUR SOUTH BLOCK (AA-ONN-2009/1)
GROSS UN-RISKED PROSPECTIVE RESOURCES AS AT 30TH JUNE, 2010
Lead Name | UN-RISKED PROSPECTIVE RESOURCES (BSCF) | |||
Low Estimate | Best Estimate | High Estimate | GCoS (%) | |
Abin/KharkubIen Anticline | - | 800.0 | - | 12 |
Taithu Anticline | - | 1,200.0 | - | 12 |
Sailman Anticline | - | 500.0 | - | 12 |
Leimata Anticline | - | 380.0 | - | 12 |
MANIPUR NORTH BLOCK (AA-ONN-2009/2)
GROSS UN-RISKED PROSPECTIVE RESOURCES AS AT 30TH JUNE, 2010
Lead Name | UN-RISKED PROSPECTIVE RESOURCES (BSCF) | |||
Low Estimate | Best Estimate | High Estimate | GCoS (%) | |
Kharkublen Anticline | - | 630.0 | - | 12 |
Oniamlong Anticline | - | 1,260.0 | - | 12 |
GCA has estimated Prospective Resources using the Petroleum Resources Management System published by the Society of Petroleum Engineers/ World Petroleum Council/ American Association of Petroleum Geologists/ Society of Petroleum Evaluation Engineers (SPE/WPC/AAPG/SPEE) in March 2007 ("SPE PRMS").
Jubilant holds a 100% participating interest in this block through its Indian subsidiary Jubilant Oil & Gas Private Limited (47% PI), which is also the operator for the block, Jubilant Offshore Drilling Private Limited (36% PI) and Jubilant Energy (Kharsang) Private Limited (17% PI).
Enquiries:
Jubilant Energy | Ajay Khandelwal, Vipul Agarwal | +91 120 4025700 |
Panmure Gordon | Katherine Roe, Adam James | +44 20 7886 2500 |
Deutsche Bank | Rajat Katyal, Drew Price | +44 20 7547 8000 |
College Hill | Matthew Tyler, Alexandra Roper | +44 20 7457 2020 |
Competent Person's consent for release
Mr Ramesh Bhatia, Vice President (Exploration), holds a Master's of Science degree in Applied Petroleum Geology and has over 20 years of experience in the Oil and Gas Exploration, Development and Production industry. He has reviewed and approved the technical information contained in this announcement pursuant to the AIM guidance note for mining and oil and gas companies.
Follow the stocks
