Indian reserves on the radar at Hardy

By Iain Esau London

 12 March 2010 01:25 GMT

London-listed Hardy Oil & Gas plans to participate in one ­appraisal and three exploration wells in Block D3 off India’s east coast this year and is also eyeing possible development plans.

The operator, Reliance In­dustries, has made three dis­coveries at the asset, located in the gas-rich Krishna Godavari basin, with the latest probe ­opening up a new geological play.

The Dhirubai 39 and 41 wells found gas in Pleistocene reservoirs while the successful last probe, Dhirubai 44 — also known as R1 — opened up the Miocene play.

Yogeshwar Sharma, chief ­executive-designate of Hardy, said R1 is expected to be a “large” ­dis­covery.

He also said a first exploration well will spud on the W1 prospect in the second quarter, although a rig has yet…

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