SGL Project Update and Notice

RNS Number : 6680V

Indus Gas Limited

15 July 2009

 

For Immediate Release: 15 July, 2009

 

Indus Gas Limited

("Indus Gas" or "the Company")

 

SGL Project Update and Notice of Results

 

Indus Gas Limited (AIM: INDI.L), an oil & gas exploration and development company with assets in India, is pleased to announce that progress is continuing to be made in all aspects of the key near term SGL Field development project on Block RJ-ON/6, in Rajasthan.

 

Focus Energy, the operator, has made good progress in developing the Field. The Company has been allocated the required land by the State Government as the site for the Gas Gathering Station, which represents a significant milestone. It has also been granted environmental clearance for the project by the Ministry of the Environment, substantially satisfying regulatory requirements. MECON, the consulting engineers on the SGL project, has also continued to advance the engineering design for the facilities required.

 

GAIL, the Indian national gas distribution Company, is also making solid steps forward in the building of the gas distribution pipeline from the Field. Tractebel Engineers and Constructors, the project management company for the building of the pipeline and associated facilities, has invited tenders for the work to be undertaken. The submission date for tenders to be entered is 17^th August 2009.

 

As part of the ongoing cycle of License extension the PEL (Petroleum Exploration License) for the Block has been renewed.

 

Indus will provide an additional operations update in it Annual Financial Results for the year ended 31 March 2009, which it intends to announce on 12^th August 2009. 

 

-ENDS-

 

For further information please contact:

 

Indus Gas Limited      

John Scott CFO		[phone]
Arden Partners plc
Richard Day/Adrian Trimmings		[phone]
Pelham PR
Philip Dennis		[phone]
Elena Dobson		[phone]

 

END

 

 

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