Niko Resources Ltd. and Reliance Industries have another exploration success in block D6, 26 km off the east coast of India.
The D6-D1 exploration well was drilled in 1,280 m of water to 2,757 m and encountered 100 m of net gas pay, confirming the geologic model. The D1 well is 13 km southeast of the D6-F1 well and 6 km northeast of the D6-SH-2 well.
Niko has increased the estimate of initial gas in-place reserves for block D6 to 10.45 tcf, in which Niko has a 10% working interest. This updated gas in-place figure does not include volumes attributed to the last two wells (D1 and A2), but only the first six wells drilled on the block. DeGoyler & MacNaughton will integrate results of the last two wells for the final reserves certification report.
The exploration program has evaluated less than 16% of the total D6 block area. A 2,500 sq km 3D seismic survey will be shot in October, which will provide the basis for a second exploration drilling campaign.
04/29/03
