Oilex Ltd Commencement of Gas Production from Bhandut Field (5762U)
April 08 2016 - 02:00AM
UK Regulatory
TIDMOEX
RNS Number : 5762U
Oilex Ltd
08 April 2016
ASX Announcement
8 April 2016
ASX: OEX
AIM: OEX
Commencement of Gas Production from Bhandut Field
Oilex Ltd is pleased to announce the commencement of gas
production from the Bhandut Field, located onshore Gujarat,
India.
The Bhandut-3 well is currently flowing at the expected
stabilised rate of 0.70MMscfd (120 boepd) through a 8/64" choke.
Gas produced from Bhandut-3 is initially processed at the on-site
production facilities and then delivered to a third party operated
gas processing plant where it is further treated to the required
pipeline specification. It is subsequently compressed for entry
into the high pressure gas network for delivery to an end user.
Bhandut Field
Oilex is Operator and holds 40% equity in the Bhandut Field,
with Gujarat State Petroleum Corporation (GSPC) holding the
remaining equity interest. Previous drilling in the Bhandut wells
intersected a number of hydrocarbon zones, some of which have been
produced and are now shut in. The Bhandut-3 well is producing from
a previously undeveloped sandstone at a depth of 1010m at virgin
reservoir pressure. This zone was flow tested by Oilex and the
Joint Venture in 2013 confirming good reservoir quality with an
average permeability of 124 mD and gas of good quality containing
98.9% hydrocarbons, of which 94% is methane and 1.1% nitrogen and
carbon dioxide.
As this is the first production from this individual reservoir,
the production will be closely monitored to facilitate a greater
understanding of its potential.
Currently the JV has approval to sell hydrocarbons from this
project for 3 months pending completion and approval of a field
development plan.
For and on behalf of Oilex Ltd
Jonathan Salomon
Managing Director
For further information, please contact:
Investor Nominated Media Enquires Media Enquiries
Enquiries Adviser (UK) (Aus)
Oilex Ltd Strand Hanson Vigo Communications Citadel-MAGNUS
Joe Salomon Limited Public Relations Public Relations
Managing Nominated Patrick d'Ancona/Chris Michael Weir
Director Adviser McMahon Email:
Email: oilex@oilex.com.au Rory Murphy/Ritchie Email: mweir@citadelmagnus.com
Tel: +61 Balmer patrick.dancona@vigocomms.c Tel: +618 6160
8 9485 3200 Email: om 6900
Australia oilex@strandhanson.co.uk chris.mcmahon@vigocomms.com Australia
Tel: +44 20 Tel: +44 20
7409 3494 7830 9700
UK UK
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