The Company has informed the Stock Exchanges as under:
“Further to the announcement dated February 27, 2012 made to your Stock Exchange, this is to inform you that the Company has successfully conducted drill stem tests (DST) in gas bearing sands of the appraisal well Dirok-4. During the DST, the gas flow rate was around 2 million standard cubic feet per day along with approx. 32 bbls of condensate per day.
The Company (the Operator), Indian Oil Corporation Limited and Oil India Limited presently have 40.323%, 43.548% and 16.129% participating interest respectively in the exploration phase.
Oil India Limited, the licensee of the block, has an option under the Production Sharing Contract to acquire additional 30% participating interest in the development and production phase. Should, Oil India Limited exercise this option, the revised participating interest in the development and production phase shall be 26.882%, 29.032% and 44.086% for the Company, Indian Oil Corporation Limited and Oil India Limited respectively.”
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