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Selan Exploration Technology Limited
Sector:Oil and Gas Oil and Gas - Exploration and Production
Market Lot: 1Face Value: 10ISIN Demat: INE818A01017
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Business Profile
Selan Exploration Technology (SELAN) is a private sector company engaged in oil exploration and production. It was incorporated as a private limited company on Jun. 5, 1985 and became a public limited company with effect from Oct. 15, 1990.

On the opening up of the oil sector to the private sector, the company was among the first to obtain rights for the development of three discovered oilfields situated in Gujarat, namely Bakrol, Indrora and Lohar, all with proven oil and gas reserves. It was awarded two more fields in Gujarat, namely Ognaj oilfield and Karjisan gas field. These oil blocks are in close proximity to the government`s crude gathering station.

In FY07, five new wells were drilled in the Bakrol, Indrora and Lohar oilfields. The production testing of these wells were encouraging, and four of the five wells yielded good production levels.

The registered office is located at 3, The Green, Rajokri, New Delhi-110038.

The company disclosed fall of 0.00% in standalone net profit on y-o-y basis to Rs 89.60 million, while total income climbed 14.13% y-o-y basis to Rs 226.90 million for the quarter ended September 2011.

Recent Developments
Sharekhan has recommended a `Buy` on Selan Exploration with a price target of Rs 507 as against the market price (CMP) of Rs 444, in its report dated Mar.10, 2010.

Future Plans
The company has a development plan for drilling of additional wells in its oil blocks in the next three to five years. With assured offtake of the entire oil and gas production from these blocks by the Government, there is zero marketing risk.

In Brief

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