>Assam's oil will enrich shareholders of OIL,
while Assam gets stolen blind.
First what OIL is showing as
its profit is coming from Assam's blood, its oil royalty. BTW we
should increase the Assam's oil royalty to minimum 1/8th (12.5%)
based on American practice. Also like the Nagas, Assam should insist on mineral
rights for oil discovered in your propoerty. I don't know if the Nagas have
surrendered the claim now. In America, they have mineral rights (to the center
of the earth?) in your propoerty.
Rajen
----- Original Message -----
From: "Chan Mahanta" <[EMAIL PROTECTED]>
To: "Ram Sarangapani" <[EMAIL PROTECTED]>; "Assam"
<[email protected]>
Sent: Monday, June 06, 2005 9:34 PM
Subject: Re: [Assam] Oil India Strikes it rich in
Dibrugarh Dist.
> >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
> >
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