Gujarat Natural Resources Ltd — Updates, 05-05-2025: Company Update

GNRL and its subsidiary GOGL have started a 7-well drilling campaign, successfully achieving key targets in the K#12 well at the Kanawara field. The well encountered a 20-meter oil layer and discovered a new wet gas layer in the younger Cambay Shale section, producing about 18,000 standard cubic meters of gas and 5 cubic meters of oil condensate per day during initial testing. The gas reserve is estimated at 40 million cubic meters over a 1.6 sq km area. Two rigs are currently drilling to complete additional wells in Kanawara and North Kathana fields, boosting GNRL’s upstream operations in the Cambay Basin.