Greka Drilling Limited India Drilling Update (4872A)
2016年6月8日 - 3:00PM
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RNS Number : 4872A
Greka Drilling Limited
08 June 2016
8 June 2016
Greka Drilling Limited
("Greka Drilling" or the "Company")
India Drilling Update
Greka Drilling Limited (AIM: GDL), the largest independent and
specialised unconventional oil & gas driller in Asia, is
pleased to provide an update on the contract to provide drilling
services to Essar Oil Limited ("Essar") in the Raniganj block, West
Bengal, further to the rig mobilisation announced on 20 April
2016.
Greka Drilling has now successfully drilled two directional
wells for Essar under this contract. The first well was spudded on
8 May and the drilling of a second well was completed by the same
GD75 rig on 5 June, with a total of 2,439 meters drilled over the
course of 28 days. The Company is prepared to drill a third well
under the contract, which is expected to spud shortly. Under the
Essar contract, which is for a period of one year, Greka Drilling
is remunerated on a day-rate basis for drilling vertical and
directional wells.
A second GD75 rig is in the process of being prepared for
mobilisation under the same contract to help meet Essar's drilling
needs in the Raniganj block, where Essar is the largest producer of
coal bed methane ("CBM") in India.
Randeep S. Grewal, Chairman & CEO of Greka Drilling,
commented:
"We are delighted that the drilling campaign for Essar has
started so well and we look forward to the mobilisation of more
rigs in West Bengal over the course of the year. There are a number
of CBM resource holders in India who are now planning extended
drilling campaigns and Greka Drilling will continue to be at the
forefront of these developments."
For further information on Greka Drilling, please refer to the
Company's website at www.grekadrilling.com or contact:
Sarah Lowther
Media Relations
Greka Drilling +44 (0)20 7016 9829
James Henderson / Rollo Crichton-Stuart
Investor Relations
Bell Pottinger +44 (0)20 3772 2500
Dr Azhic Basirov / David Jones / Ben
Jeynes
Nominated Adviser and Broker
Smith & Williamson +44 (0)20 7131 4000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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