Hindustan Oil Exploration Company · tone and specificity signals across the available quarters.
Language signals
We will drill the first well, test it, understand the deliverability, then go to the second well and then to the third... as soon as we are talking about stuff which is 4 kilometers below the main mud line. So that uncertainty will remain but going by the reservoir models that we have we believe we have infill locations for three that we will need to do.
In the oil and gas sector we have to continue to pursue production so long as we have a level of confidence that the recoverable reserves are still in the ground. In India we don't have an ecosystem where you can make a phone call and get a vessel to do work on a subsea completion well.
The PBT in the current quarter was impacted by stock adjustments of 41 crores which is due to reversal of the HPCL sale. If we adjust for this, the underlying operational performance would be different.
We have reached a production level of about 900 barrels per day from this block up from 350 barrels of initial production.
It is a blessing in disguise. Now we proved there is a substantial volume of gas available in for monetization.
We are not liable for any cost claim under the KOSA executed with HPCL.
Today, HT stands at a pivotal inflection point in its journey. Over the past years, we have systematically built a diversified and balanced portfolio of producing development and exploration assets across India's hydrocarbon bases.
Our 1P to 2P reserves just valuing the reserves would stand at 3 to 5 billion USD depending upon what oil price we choose and there are substantial upsides beyond the book reserves.
We are looking at various proposals with people to try and organize for immediate fund for our capex program. Remember our operations are run on our cash and to a great extent our limited capex has been funded internally by cash generation.