----- Original Message -----
Sent: Tuesday, June 07, 2005 9:25
AM
Subject: Re: [Assam] Oil India Strikes it
rich in Dibrugarh Dist.
> This also shows that
owning OIL by Assam may not be that fun after all, and should be a lesson
>to the freedom fighters of Assam. There may not be much gold in the golden
pot.
*** That is serious. Maybe OIL is there for charity to Assam, employing
all those lazy people at exorbitant salaries. The Assamese ought to be warned
not to rock the boat, asking for more royalty et. OIL may leave and Assam will
be left holding the empty wells, and paying them outsiders to close the wells
down.
Yep, those freedom fighters need to screw their heads on right.
:-) :-) :-)
But seriously something seems to be missing in the reasoning here, isn't
it?
At 8:37 AM -0500 6/7/05, Rajen Barua wrote:
>their profit
has zoomed up to Rs 1061 crores in the last
> financial
year.
This is where we need to know the reality of the economics of
situation. Frankly speaking this Rs. 1061 crores profit will be only around
5% of total annual oil production revenue of OIL (according to my one
estimate and based on present world oil price). This also means that
OIL will be incurring a loss if it were to pay the royalty to Assam. This
also shows that owning OIL by Assam may not be that fun after all, and
should be a lesson to the freedom fighters of Assam. There may not be much
gold in the golden pot. But there again one need to know how
OIL is calculating their profit which may be tricky. Anyhow,
I think Assam will be better off just playing dumb and claiming 12.5%
royalty which will be around Rs 4000 crores according to one estimate I made
earlier. At least that will start the debate and discussion for
decentralization. The point is to do something. At present Assam is just
sitting Hobo Diok..
RajenBarua
----- Original
Message -----
From: "Ram
Sarangapani" <[EMAIL PROTECTED]>
To: "Assam"
<[email protected]>
Sent: Monday, June
06, 2005 6:17 PM
Subject: [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.
>
> -----------------
>
> 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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