Selan Oil Exploration

Selan : Sept 24 AGM notes

1. Business overview
   a. 70% volume is from oil and 30% is from gas
   b. Field wise – approx. 60 -65% of sales volume is from Bakrol , while 30% is from Karjisan. Lohar has smaller contribution
   c. Confident of delivering on the guidance for full year (30 to 35% higher avg sales than FY 24)

2. Bakrol field
   a. Drilled 6 wells in Bakrol. Production from these wells is as much as that from all other older wells
   b. Looking to drill more wells in Bakrol
   c. Extension sought for Bakrol. to drill beyond 2030. EC process is on

3. Karjisan
   a. Should see ramp up of gas production from the field
   b. Commercial gas sales to a new gas buyer has commenced in Q2 FY 25

4. Lohar field
   a. Focus on opex reduction to continue and on sustaining production levels
   b. Extension sought for Lohar beyond 2030

5. Duarmara (in Assam) – On track to commence drilling by end of FY’25

6. Elao field – more of an opportunistic acquisition. Not supposed to have a big contribution to volume

7. Macro view
   a. Seeing a lot of support from the Govt; as we move from offshore to onshore drilling
   b. No impact of Windfall tax cut as company doesn’t come under ambit of windfall tax
   c. Gas prices continue to be robust
   d. Expecting gas to play a big role in decarbonizing ; bigger portion of Antelopus would also be gas

Disc: Invested