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Manipur Resources Update

23rd Jan 2013 07:00

RNS Number : 1639W
Jubilant Energy N.V.
23 January 2013
 



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.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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