News

March 09, 2010

Hardy Oil & Gas Drills A successful Third Well On Its Highly Prospective Deepwater D3 Block Offshore Eastern India

London main board LSE listed Hardy Oil & Gas is a full cycle E & P company with production, development and high impact exploration prospects, mostly, but not entirely, in India. The emphasis in the 2009 preliminary results report is very much on the high impact exploration part of the portfolio.

Hardy has interests in two deep water blocks D3 and D9 in the Krishna- Godavari Basin off the east coast of India. Hardy holds 10 per cent in both of these blocks together with the Indian powerhouse, Reliance. This group is India’s largest private sector company with interests that stretch from upstream oil and gas to home furnishings. Reliance holds a 90 per cent interest in both D3 and D9 and is the operator.

A ten per cent interest may not sound like much but it could turn out to be a 10...