Announcement under Regulation 30 (LODR)-Operational Update of Drilling Campaign by the Company & its Subsidiary_18.08.2025
GNRL · price
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Awaiting price reaction for this filing.
GNRL's step-down subsidiary GOGL started a two-well development drilling campaign in the North Balol gas field on 10 August 2025. The first well, NB10, has already reached 312 metres out of a planned total depth of 900 metres. The field is currently producing 11,000 Standard Cubic Meters per Day (SCMD) of gas, and once both wells are drilled, production is expected to jump to 60,000 SCMD — roughly a 5.5x increase. Commercial production from the two new wells is expected to begin within two months. GOGL holds a 30% participating interest in the North Balol field.
This is a positive operational update — production is set to multiply more than five-fold within two months, which should meaningfully boost revenue and earnings for GNRL, though the benefit is moderated by the 30% subsidiary interest.