[T.S.R:18334] Selan Oil-Update

Selan Exploration is an oil exploration & production company with five oil fields in the oil rich Cambay Basin of Gujarat. The initiatives taken to monetise the oil reserves in its Bakrol and Lohar oil fields are likely to improve

production. Further, in FY2012 it intends to explore its next field, Indrora, which is the most prolific one with significant reserves.

 

Based on this, we expect the company to ramp up its production two times by FY2014 over that of FY2011. It would lead to an earnings growth of 49% (three years' CAGR over FY2011-13) as it is expected to take advantage of the ramp-up in production, higher crude price and stable operating cost. Hence, we rate this stock as Buy.

 

 

Safe Harbor Statement:

Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

 

Nothing in this article is, or should be construed as, investment advice.

 

 

 

 

 

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