Hardy declared the commencement of drilling of the second exploration well on the D9 exploration license.

The exploration well KG-D9-B3 commenced drilling on December 20, 2010 using the Transocean drillship Discoverer India in a water depth of approximately 2,950 m. The target depth of the well, which aims to explore the hydrocarbon potential of Tertiary aged sands, is 3,830 m MD.

The D9 exploration license is located in the Krishna Godavari basin on the East Coast of India and covers an area of approximately 11,605 km2. Hardy holds a 10 percent participating interest in the license which is operated by Reliance Industries Limited. The license's minimum work program provides for the drilling of four exploration wells.

Yogeshwar Sharma, Chief Executive Officer of Hardy, commented, "We are delighted with the commencement of drilling of our second exploration well on this prospective block where a number of promising prospects have been identified. The results of the KG-D9-B3 well are expected in the first quarter of 2011."

Tags: Reliance Industries Limited