South West Pinnacle Exploration Limited (SWPE), a leading integrated end-to-end drilling & Exploration drilling service provider across all natural Resources, has won a Letter of Award (LOA) from Oil India Ltd (OIL), one of the most prestigious public sector company in India, for imparting services of exploration of oil and gas through Passive Seismic Tomography(PST) in North Eastern Part of India.
Aggregate Value of LOA is ~ Rs. 60 Crores.
PST is a special domain to explore Oil and Gas in areas where frequency of local earth quakes is quite high. SWPE has got the unique distinction of using this technology in India for exploration and has successfully completed one such project of OIL in the same domain in the recent past.
Commenting on this development, Mr. Vikas Jain, Chairman & Managing Director said, "I am very pleased to announce that we have received an LOA from Oil India Ltd. for exploration of oil and gas using PST from such a reputed public sector company. Such an LOA strengthens the long term sustainability of the Company and fits-in well with the vision of the Company. Oil and Gas exploration through PST underlines the fact that the company uses the latest available technologies in the world for exploration which differentiates us from others in the field." Mr. Jain added.
Shares of South West Pinnacle Exploration Limited was last trading in BSE at Rs. 145.75 as compared to the previous close of Rs. 150.10. The total number of shares traded during the day was 13554 in over 428 trades.
The stock hit an intraday high of Rs. 150.45 and intraday low of 144.30. The net turnover during the day was Rs. 1995742.00. |
