block 430 well 1nse1 , page-2

Just to add to my earlier post on 1NSE1.

In the event of a discovery & after approval from ANP, the license holder has an initial production peroiod of 27 years & pay a 10% royalty to ANP % 1% ground rent to the
land owners.

Note, the the PTA-3 (in B330) is one such example where the lease had expired & in the new round of bidding was picked up ERH/Gavea JV, hence the low production as most of the reservoir has peaked but whats left is produced by swabbing the well hence the low rate of 60-100 bbls/d. A good example of low risk - low reward.

However, in case of 1NSE1, this should b classed as a new discovery by the Operator & gives the JV production rights for 27 years. Naturally the well will flow at a higher rate initially & with time the pressure should drop.

Exactly how much lies beneath, the next 10 days should tell us that.