Announcement under Reg 30 (LODR)-Operational Update of drilling campaign by Company & its Subsidiary_05.05.2025
GNRL · price
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Awaiting price reaction for this filing.
GNRL and its step-down subsidiary GOGL have kicked off a 7-well drilling campaign in the Cambay Basin, starting with the K#12 well in the Kanawara field. The well successfully hit both its targets: a 20-metre oil layer in the EPIV reservoir (depth 1647–1676 m) and, more notably, a brand-new wet gas layer in the younger Cambay Shale (depth 1726–1740 m). Initial testing showed production of about 18,000 scmd of gas plus 5 m³/day of oil condensate. The new gas discovery covers an estimated 1.6 sq km area with in-place gas reserves of around 40 million cubic metres. Extended testing will run over the next 15 days, and the company has deployed 2 drilling rigs to complete 3 more wells in Kanawara plus one in North Kathana.
This is a positive operational update — confirming both an oil pay zone and a new gas discovery could support future production growth and revenue. However, GNRL is a small-cap operator with five small fields, so the financial impact in the near term is likely limited and stock reaction depends on how the extended testing and follow-up wells perform.