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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Synergia Energy Ltd | LSE:SYN | London | Ordinary Share | AU0000233538 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0075 | 6.25% | 0.1275 | 0.125 | 0.13 | 0.1275 | 0.12 | 0.12 | 45,682,136 | 16:23:43 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 1.3M | -5.38M | -0.0006 | -2.17 | 10.94M |
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 =========================== ============================ ============================ =============================
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/5762U_1-2016-4-8.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
April 08, 2016 02:00 ET (06:00 GMT)
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