At 6:17 PM -0500 6/6/05, Ram Sarangapani wrote:
This is good news indeed, and the fact that OIL is going for its first IPO.
*** Is it good news for Assam? Assam's oil will enrich shareholders of OIL, while Assam gets stolen blind. And that is good news?
----------------- OIL strikes it rich in three structures in Assam Guwahati, Jun 06 (UNI) Oil India Limited (OIL) has struck crude petroleum in the three new structures in Dibrugarh district of Upper Assam even as their profit has zoomed up to Rs 1061 crores in the last financial year. According to the director's report, the OIL has struck oil in the three new structures on North Tini Ali, West Zaloni and Samdang-3. The company is upbeat with the new discoveries as they are preparing for the first Initial Public Offering (IPO). The OIL India sources, however, confirmed that they were keeping their finger crossed about the result of the latest round of the New Exploratory Licensing Policy (NELP) bidding for getting license for exploration of the new block. The ONGC, Reliance and Videocon are pupshing ahead for license in new prospective blocks of Upper Assam. The source informed that new discoveries would go a long way to double the gas and crude production in the next five years through initiative like breakthrough performance under taken by the company for organisational transformation. In fact the director's report said the profit after tax was Rs 1061 crores as the oil and gas products had registered a seven per cent growth in the last financial year ending March 2005. Increased production of crude oil and natural gas coupled with increse in price resulted in company recording the highest ever total income of Rs 4097 crores. --From Deepikaglobal.com _______________________________________________ Assam mailing list [email protected] http://pikespeak.uccs.edu/mailman/listinfo/assam Mailing list FAQ: http://pikespeak.uccs.edu/assam/assam-faq.html To unsubscribe or change options: http://pikespeak.uccs.edu/mailman/options/assam
_______________________________________________ Assam mailing list [email protected] http://pikespeak.uccs.edu/mailman/listinfo/assam Mailing list FAQ: http://pikespeak.uccs.edu/assam/assam-faq.html To unsubscribe or change options: http://pikespeak.uccs.edu/mailman/options/assam
