India: Hardy Oil and Gas Announces 4th Successive Gas Discovery at Krishna Godavari Basin

Hardy Oil and Gas plc, the oil and gas exploration and production company, with assets predominantly in India,  announces its fourth successive gas discovery in the exploration block KG-DWN-2003/1 (D3) of NELP-V.

The well KGV-D3-W1, the fourth exploration well in this block, was drilled to a total measured depth of 3,501 m at a water depth of 1,653 m. A gross gas pay zone of 37.5m was encountered in Pliocene aged sands. The potential of the pay was evaluated by wire-line based modular pressure testing tool and collection of gas samples. The discovery (Dhirubhai-52) has been notified to Government of India and Directorate General of Hydrocarbons. The potential commerciality of the discovery is being ascertained through more data gathering and analysis.

The D3 license, in which the Company holds a 10 percent participating interest and is operated by Reliance, is located in the Krishna Godavari basin on the East Coast of India and covers an area of approximately 3,288km2.

Commenting on the well results, Yogeshwar Sharma, Chief Executive Officer of Hardy said:

“Four successive discoveries highlight the significant prospectivity of this extensive exploration block. The Krishna Godavari Basin is an emerging world class basin for India. Further exploration drilling is planned in this area and we look forward to continuing to participate in unlocking of the basin’s exceptional energy potential.”

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Source: Hardy Oil and Gas plc, August 31, 2010,