Oilex Ltd. provides the following information regarding the Cambay-77H well. Drilling of the 12 ¼ inch hole section reached 1,626.5m MD which is approximately 26.5m above the planned casing point for the 9 5/8 inch casing. While pulling out of hole (POOH) to service a mud pump, the Essar Land Rig #4 (Rig) experienced mechanical issues and is currently on equipment downtime at no cost ($0.00 day rate) to the Cambay Joint Venture.

Some of the required replacement parts have been ordered and are being airfreighted from Houston while others have been locally sourced. This reflects the fastest delivery option for special parts not normally included as onsite spares for drilling rigs. It is anticipated the Rig will be operational within 10 - 12 days.

Tags: Oilex Ltd