Offshore staff

Niko Resources announces its first deepwater discovery off the east coast of India in the D6 block with the successful completion of D6-MA-1.

MA-1 is the first Cretaceous test by the D6 joint venture and reached TD of 3,783 m. It tested oil and gas in two intervals.

Preliminary evaluation indicates 26 m of net oil pay and 72 m of net gas pay. The oil zone tested at 6,700 b/d oil and 10.96 MMcf/d gas with a wellhead pressure of 1,366 psig. The gas zone tested at more than 32 MMcf/d and 3,370 b/d condensate at a wellhead pressure of 1,609 psig.

The Cretaceous discovery opens a new area for exploratoin in the D6 block, said Niko, and evaluation will begin in July with MB-1 well 11 km east of MA-1.

6/27/06