Already two out of three wells drilled in the first exploration phase have found traces of petroleum.
Bharat said after the result of the fourth well, data will be analysed and modelled which may take about 6 to 8 months.
In 2014 the firm will be ready for an appraisal program involving more drilling and analysis to gauge the commercial viability of petroleum deposits it has found.
If commercially viable deposits are found, the company will move into the development stage, where infrastructure to extract oil will be built. Production stage will come thereafter.
Bharati said the drill ship has about 100 staff on board and Sri Lanka's Air Force is ferrying people from Colombo to the ship which is about 22 kilometres of Kalpitiya in Puttalam.Almost the entire crew will go on rotation during the period the vessel will remain in Sri Lanka and specialists will also be brought in from time to time.
Bharati said both Sri Lanka's Air Force and Navy was helping with the firm's operations.