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Selan Exploration Technology Ltd. Company History and Annual Growth Details

1985 - Selan Exploration Technology Limited was incorporated in the Union Territory of
Delhi as private limited company and obtained certificate of incorporation on 5th
June. The company became public limited company with effect from 15th October
1990 and obtained modified Certificate of Incorporation from the Registrar of Companies,
Delhi & Haryana.

- The Company started bidding for consulting assignments and seismic work in 1986
entered into the first contract with ONGC in 1989. The work commenced on 10th
September 1991 after completion of procedural formalities. The Company has not faced
and is not facing any labour problems.

- The company is presently undertaking seismic data acquisition work for Oil & Natural
Gas Commission (ONGC) in Cauvery Basin in South India. The company entered into an
agreement with ONGC for acquisition of land seismic data for a period of 4 years with a
provision of negotiation of price after completion at first two years of operation.

1993 - In December, SELAN was awarded the Bakrol, Indrora and Lohar oilfields in Gujarat.

1994 - The company is acquiring data at the rate of 3.6 GLK per day and has deployed 26
people onsite including highly qualified and experienced Seismologists, Geophysists
Engineers, Surveyors and the like Six of the Seismologists and Engineers were trained
in USA for several weeks with the original equipment manufacturers who have supplied
the latest and most advanced equipment.

- The Company is now entering into the Business of developing proven oil fields, the rate
and probability of success depends largely on the accuracy of data acquisition and

1995 - During the year the Company made a Capital Issue aggregating Rs.204 million which
comprised of 2.6 million equity shares of Rs.10 each and 2.7 million Zero Interest Partly
Convertible Debentures (ZPCDs) of Rs.65 each.

1997 - The Company has received Letters of Intent for two additional fields in onshore Gujarat viz
Karjisan, a gas field and Ognaj, an oil field, from the Ministry of Petroleum and Natural Gas
(MoPNG) and further negotiations are on with the Government for signing of Production
Sharing Contract for these fields.

1998 - The Company has proposed an extensive development plan for the three oil fields viz.
BAKROL, INDRORA and LOHAR to the Ministry of Petroleum and Natural Gas (MoPNG).

2000 - The Company has appointed HSBC Securities India Holdings Pvt. Ltd. (066) as
company's broker for buy-back of shares through BOLT system upto 26th September.


-Selan Exploration Technology enters into agreement with Ministry of Petroleum & Natural Gas
Oct 26, 12:00 am
Oct 26, 4:14 pm
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