Hardy reports second gas discovery

Hardy Oil and Gas plc, the oil and gas exploration and production company with assets in India and Nigeria, declares the second gas discovery in the Company’s D3 deepwater exploration block.

The well KGVD3-B1 was drilled in a water depth of 711 meters (m), to a total depth of 2,730 m, with the objective of exploring high amplitude geobodies of Pliestocene deep water fan complex and unconformity related structural traps at the Miocene level. Excellent quality reservoirs were encountered with gross hydrocarbon columns of approximately 111 m. The potential of the zones was evaluated through wire-line based technology called Modular Dynamic Testing (MDT). The Government of India and Directorate General of Hydrocarbons have been notified of this discovery, (named Dhirubhai–41). The potential commercial interest of the discovery is being ascertained through further data gathering and analysis.

In February 2008, the Company announced the first gas discovery in the same block (named ‘Dhirubhai–39’) and notification of potential commercial discovery was recently submitted to the Government of India and Directorate General of Hydrocarbons.