LONDON (ShareCast) - Oil and gas exploration company Jubilant Energy has revised upwards its prospective resources for its two Manipur Blocks in onshore India.
Based on surface geology mapping and structural geology reconstructions, the group stated that its latest resource assessment showed that seven structural features had been identified in the two blocks.
The structural features included Oinamlong and Nungba, located in the north block, Kharkublen which straddled both blocks, and Parbung, Pherzawl, South Songsan and Songtal which were located in the south block.
The updated resources assessment stated that three of the features - Oinamlong, Nungba and Parbung - had been high-graded as prospects as there were plans to drill the wells in the near future.
The rest of the wells were considered leads which would mature into prospects once they were included in the firm drilling plans.
Jubilant (BSE: JUBILANT.BO - news) 's share price rose 2.67% to 19.25p on Wednesday morning.