Mercator Ltd. says that its subsidiary Mercator Petroleum Ltd. has made its first oil discovery. Crude oil flowed from its well, Jyoti-1, onto the surface in presence of the DGH representative. This discovery was from the very first well drilled by MPL. The same has been informed to the Directorate General of Hydrocarbons.

The well was drilled in compliance with all the technological and ecological standards and requirements to a depth of 2936m, penetrating multiple oil and gas shows. The zone in interval 2575 to 2580m (Hazad Member of Ankleshwar Formation) was perforated and flowed oil at the rate of 830 bopd through 32.64' choke size. The oil is light and of very good quality with 41 API. The discovery forms part of the block CB-ONN-2005/9.

Dr Rabi Bastia, President Exploration & Production, MPL commented,'The discovery in the very first exploration well speaks volumes for the capability of our team. This discovery pertains to a very good quality Miocene age clastic reservoir with permeability of more than 500 milli darcy. A substantial amount of new geological data was obtained from the well which will be further evaluated and integrated and a conclusion on the resource base of the field will be made. The discovery opens up a large corridor of possible hydrocarbon accumulation in the area.'

Tags: Mercator Ltd.