Operations Update

RNS Number : 8138T

Indus Gas Limited

25 November 2013

 



For Immediate Release                                                                                       25 November 2013

Indus Gas Limited

("Indus" or "the Company")

Operations Update

Indus Gas Limited (AIM:INDI.L),  an oil and gas exploration and development company with assets in India,  is pleased to announce progress on the following matters concerning the RJ-ON/6 Block.

The Company has submitted a Declaration of Commerciality ("DOC") request for approximately 2,000 square kilometres in the Western half of the RJ-ON/6 Block in respect of gas discovered to date as previously reported on 26th February 2013.

At a Board Meeting last week, the Board ratified a new term debt facility of US$180mn and further details will be released in due course.

Following submission of the "DOC", and in line with previously announced drilling plans,  additional resources have been deployed to well testing since the publication of the Annual Report. Initial results have been positive and further details will follow on completion of the
testing programme.

As announced on 30th September 2013, John Scott has rejoined the Board as Chief Financial Officer with effect from 25th November 2013.

-ENDS-

For further information please contact:

Indus Gas Limited
Peter Cockburn (c/o Arden Partners)		[phone]
Arden Partners plc
Richard Day		[phone]
Bell Pottinger PR
Philip Dennis		[phone]
Elena Dobson		[phone]

                                                                                               

 

END

 

 

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