Hindustan Oil Exploration Company Limited has informed the Exchange regarding 'Update on Kharsang Block'.
HINDOILEXP · price
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Awaiting price reaction for this filing.
HOEC has completed drilling of Well KSG-71 in the Kharsang Block, with initial oil production of about 250 barrels per day under testing. The well will be hooked up for production shortly after testing finishes. A second well, KSG-72, has already been spud as part of a nine-well development drilling plan. Drilling in the block has resumed after a 12-year gap. Geoenpro Petroleum, a wholly owned step-down subsidiary, operates the block with 10% participating interest, while HOEC holds 25%, giving a combined 35% stake in the 10 sq. km Kharsang Block in the Assam Arakan Basin.
This is a positive operational update showing renewed drilling activity and a return to production at Kharsang after over a decade, which could support revenue growth from this block. However, the scale of 250 barrels/day is modest, so material impact on financials will depend on the success of the remaining wells in the nine-well program.