General Announcement::Update on Oil Blocks

Issuer & Securities

Issuer/ Manager
MERCATOR LIMITED
Securities
MERCATOR US$16M4.75%CB190527 - XS1072432161 - 3R0B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
27-Jun-2018 21:32:35
Status
New
Announcement Sub Title
Update on Oil Blocks
Announcement Reference
SG180627OTHRAC2A
Submitted By (Co./ Ind. Name)
Rajendra Kothari
Designation
CFO & Compliance Officer
Effective Date and Time of the event
27/06/2018 17:00:00
Description (Please provide a detailed description of the event in the box below)
Mercator Petroleum Limited (MPL), a Mercator Group Company, is delighted to announce that the Department of Petroleum, Government of Gujarat has granted Mining Lease on 27 June 2018 for exploiting oil discoveries made by MPL in Block CB-ONN-2005/9. The Mining Lease has been awarded for a period of 20 years. As announced earlier, the Directorate General of Hydrocarbons has approved the Field Development Plan (FDP) for over 23 million barrels of recoverable Oil in Jyoti-1 & Jyoti-2 discoveries situated in Block CB-ONN-2005/9.

MPL is geared up to bring the Block to production at the earliest.

Attachments

SGX_Update.pdf
Total size =42K