Oil India updates on Hydrocarbon Discovery in the Baghjan Petroleum Mining Lease in the Upper Assam Basin

Oil India Limited, through its exploratory efforts has made 1 (one) Hydrocarbon Discovery in the Baghjan Petroleum Mining Lease (PML) in the Upper Assam Basin in the month of May 2017 in the well of South Baghjan-2.

The well South Baghjan-2 encountered multiple sands in Narpuh and Lakadong+Therria formations. On testing, a 15m Lk+Th sand at a depth of 4154 m produced oil at the rate of 100m3/d. Presently, the well is put on regular production. Further appraisal of the discovery is planned which is likely to enhance the oil & gas production through appraisal & development activities.

OIL has also made 10 (ten) discoveries in its operational areas of Assam during 2016-17. The discoveries have opened up avenue for further exploration of already identified leads / prospects in the area.

Shares of OIL INDIA LTD. was last trading in BSE at Rs.297.6 as compared to the previous close of Rs. 301.75. The total number of shares traded during the day was 52585 in over 1315 trades.

The stock hit an intraday high of Rs. 302.5 and intraday low of 296. The net turnover during the day was Rs. 15667563.

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