25th Nov 2013 12:08
LONDON (Alliance News) - Indus Gas Limited Monday said it has submitted a Declaration of Commerciality request for roughly 2,000 square kilometres in the western half of the RJ-ON/6 Block with respo3ect to gas discovered to date.
The oil and gas exploration and development company, with assets in India, said the space was chosen to develop after gas discoveries announced on the SSF2 and SSG-1 sites nearby in February.
Indus Gas said that following submission of the DOC, and in line with previously announced drilling plans, additional equipment and resources have been deployed to well testing. Initial results have been positive and further details will be announced as the testing programme completes.
The company also said that at a board meeting last week its directors ratified a new term debt facility of USD180 million. It said further details will be released in due course.
Indus Gas shares were untraded at 917.00 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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