India: exploration program

Niko Resources Ltd has entered into a deal with the Gujarat based John Energy for a multi-well exploration program in its Cauvery onshore block CY-ONN-2003/1. Proposed exploration wells are going to be drilled on close to three hectares of the NELP-V contract area. To begin with, two wells, the fourth and fifth in a nine well exploration series, shall be drilled in the block, followed by another exploration well after March 2009. The Canadian E&P firm has set aside a corpus of nearly USD 10 million for the onshore drilling program. The block is spread over an area of 957sq/km and 2D API mapping has already covered about 1000 line km. The onshore rig is expected to arrive in the coastal block by March 2009.
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