Project Profile
Location: Northern part of the Cauvery Basin, offshore from Pondicherry, India
Reserves: 130 BCF
Production (peak): 10.7 mmscfd
Area: 859 sq km
Discovery: 2007
Hardy is the operator of the CY-OS/2 exploration block and holds a 75% participating interest, through its wholly owned subsidiary Hardy Exploration & Production (India) Inc. GAIL (India) Ltd holds the remaining 25% interest. CY-OS/2 block is located in the northern part of the Cauvery Basin immediately offshore from Pondicherry, India and covers approximately 859 sq km. The license comprises of two retained areas with the Ganesha-1 natural gas discovery located in the northern area, which comprises an area of approx. 300 sq km.
Ganesha-1 - The natural gas discovery Ganesha-1, announced in January 2007, was drilled to a depth of 4,089 metres, encountering sandstone reservoir in the Campanian. The well flow tested at a peak rate of 10.7 mmscfd. The Company published a competent person report, prepared by Gaffney, Cline & Associates, dated March 2011, which estimates 2C Contingent Resources of approximately 130 BCF.
Operators:
Hardy Exploration & Production (India) Inc: Operator with 75% interest
GAIL (India) Ltd: 25% interest
Contractors:
Gaffney, Cline & Associates: Geological resource survey (competent person report)