Capex Data
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Future Plans
Looking forward, the Group will continue to assess investment opportunities that will complement the Company's asset portfolio. Focus will remain in India where the Company has gathered an exceptional team of industry expertise.
Specific activities to look forward to in the following twelve months include:
• CY-OS/2 – The drilling of the second prospect (Fan A)
• D9 - The drilling rig scheduled to commence operations on the block is scheduled to start activities in the second quarter of 2007
• D3 - The processing and interpretation of the newly acquired 3-D seismic data. It is unlikely that drilling will commence prior to 2008.
• PY-3 Phase III - The PY-3 joint venture will look to implement the approved development plan with the addition of a water injection well and additional drilling to extend the field and potentially add recoverable reserves.
• Oza - Look to initiate well testing prior to year-end. Subject to a successful test, sustainable production could begin by the second quarter of 2007.
• HOEC - Hardy will continue to hold this strategic investment in HOEC. It will subscribe in the upcoming rights issue to maintain the Company's 8.5% interest.