OIL discove of Natural Gas in the Shallow Offshore

OIL India Limited has made a significant stride in its quest for hydrocarbons with the discovery of Natural Gas in the otherwise unapprised “Matsyapuri” formation in the Krishna-Godavari Basin. The Well Godavari – 1 has been drilled as an Appraisal Well in the Discovered Small Field Block KGDSF/GSKW/2018 in the shallow offshore water of KG Basin, awarded to the Company as a Sole Operator. Production testing of the zone started from 16th October 2026 and resulted in flow of Natural Gas to the surface at a flow rate of about 1 Lakh SCUMD with maximum flow rate of 2 Lakh SCUMD achieved on continuous testing with composition of condensate at the rate of about 170 bopd (API @ 60 °F is 55.8) and water with Well Head Pressure of 1815 psi. Presently preparations are on for testing the next higher up zone. Opinion : This news will have positive impact on the stock price. Disclaimer : This is not a buy,sell or hold recommendation. I do not hold this stock