Jubilant Energy's KG Basin Contract Area Extension Gets Approval

Jubilant Energy has announced that it has got approval for an extension of 20.5 sq kms to the existing contract for the Krishna Godavari Block.

The Field Development Plan for the DeenDayal West area (DDW) in the Krishna Godavari block, which includes wells KG-8, KG-15, KG-17 and KG-28, was approved by the Government of India in November 2009.

As previously announced by Jubilant, management believe that the hydrocarbon plays encountered in discovery wells KG-8 and KG-15 extend towards the South/SouthWest of the original block boundary, these areas are now covered by the extension to the block. As a result of the extension, the approved development area for DDW has increased from 17 sq kms to a total of 37.5 sq kms.

The Company plans to get the reserves and resources of the extension area certified by the technically competent authority which will be announced to the market.

Jubilant holds a 10% participating interest in this block through its subsidiary Jubilant Offshore Drilling Private Limited in India. Gujarat State Petroleum Corporation Limited, with an 80% participating interest, is the Operator of the block.