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Your Company began the Production of Oil and Gas in 1995, over 25 years ago. During this period we have produced nearly 4 million boe, and continue to have significant reserves for further production.
At present the Company also has over ' 200 crores in Net Current Assets, and has paid dividends continuously for over 15 years.
The Promoters of the Company have now entered into an agreement to sell 21% to 25% of their shareholding to Blackbuck Energy Investments Limited, who will now become the new promoters of the Company.
Blackbuck Energy is owned largely by Oak Tree Capital, and they also have a controlling stake in Antelopus Energy Private Limited in India.
We are very confident that under new ownership and management the shareholders of SELAN can continue to expect a very bright future for the Company, with a significant growth in sales & profits and shareholder value.
I would also like to take this opportunity to thank all the wonderful employees of the Company who have devoted their time and energy to help your Company achieve the significant results we have achieved over the years.
With Best Wishes for the Future,
Rohit Kapur
Chairman
Selan Explorations Technology Ltd
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