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Oct 27, 2017
Quarterly Report September 2017
HIGHLIGHTS
CAMBAY FIELD, ONSHORE GUJARAT, INDIA
Core analysis confirms EP-IV tight siltstones at Cambay can be effectively stimulated, and that commercial gas flow rates are potentially achievable. The study also identified compelling reasons for past under-performance of EP-IV wells.
Application for a ten-year extension of the PSC lodged in September 2017 ahead of PSC expiry date of September 2019.
Active work programme of work overs and vertical wells being planned for 2018 subject to receipt of PSC extension and funding.
Intermittent Gas production continued from the C-77H well at the Cambay Field.
During the quarter, the Joint Venture partner, GSPC, paid the equivalent of US$78,182 (gross) against outstanding cash calls.
BHANDUT FIELD, ONSHORE GUJARAT, INDIA
During the quarter, the Joint Venture partner, GSPC, paid the equivalent of US$34,708 (gross) against outstanding cash calls.
Application for an extension of the PSC lodged in September 2017 ahead of PSC expiry date of September 2019.
Potential opportunities for the sale of the PSC continue to be advanced.
CORPORATE
Cash resources at 30 September 2017 A$1.91 million.
Implementation of further extensive cost reduction initiatives effective from 1 October 2017.
11,722,222 broker options exercised.
Actively reviewing new opportunities to create value by expanding the Company’s project portfolio.
September 2017 Quarterly Report
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