India: Deepwater Frontier Restarts Well KGV-D3-W1 Drilling

Hardy Oil and Gas plc (LSE: HDY), the oil and gas exploration and production company with assets predominantly in India, announces the recommencement of drilling of the exploration well KGV-D3-W1, on the Company’s KG-DWN-2003/1 (D3) exploration license.

The KGV-D3-W1 exploration well recommenced drilling on 10 August 2010 using the Transocean rig Frontier 534 in a water depth of 1,653 m.

The target depth of the well, which aims to explore the hydrocarbon potential of Mio-Pliocene sands, is 3,514 m MD.

The KGV-D3-W1 well, was spud on 2 April 2010 using the Transocean rig the Deepwater Expedition. The well had been suspended at the end of May 2010, at a depth of 2,608 m MD, due to an unresolved problem with the BOP control system of the Deepwater Expedition drilling rig.

The D3 licence is located in the Krishna Godavari Basin on the East Coast of India and covers an area of approximately 3,288 km^2. The Company holds a 10 per cent. participating interest in the block, with Reliance Industries Limited holding 90 per cent. as operator.

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Source: Hardy Oil, August 11, 2010: