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Kolkata, Oct. 12 Canoro Resources is preparing an eight well development plan for Amguri field. The plan includes six development wells and two appraisal wells. The company has already drilled two wells in the field.

Development drilling is expected resume in the block in the first quarter of 2008. If the appraisal wells are successful, the company may drill more development wells in the next phase of the development programme.

Canoro is the operator of Amguri field – located in Assam- with 60 per cent interest. Assam Company has 40 per cent participatory interest in the field.

According to a company release issued on October 10, test done on Amguri 11 well confirmed a flow rate of over 3,100 barrels of oil and oil equivalent a day.

Depending on the results of Amguri 11 and the previously drilled Amguri 10B, the company is preparing an initial development plan for Amguri. “We are proposing up to eight more wells in the first phase of the plan, six development wells and two more appraisal wells,” the release adds.

While the development plan is under-preparation, Canoro has decided to share the rig with another operator in the region for four months at a total consideration of $1.4 million. This will reduce the development cost of Amguri.

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