Selan Exploration Technology Limited — Important, 10-02-2025: Updates

Selan Exploration Technology Limited has provided a clarificatory update regarding activities in the Cambay field, highlighting ongoing appraisal and development efforts across three reservoir zones within the Cambay PSC. The company has been performing data collection and workovers to assess production potential. Recently, workovers on two wells demonstrated promising productivity from the Miocene sands and tested alternative artificial lift methods, leading to marginal production increases.

Future workovers are planned using larger workover rigs, with 5 to 6 additional wells identified for Q1 and Q2 FY 2025. An amendment to the existing Farm In Farm Out Agreement allows for staggered drilling of three wells, responding to insights gained from recent data collection.

Looking ahead, a tender for drilling services has been issued, with plans to drill the first vertical/inclined well in Q2 FY 2026, targeting multiple zones. Stakeholders will be updated on any significant developments as they arise. This proactive management approach suggests a positive outlook for production potential in the Cambay field.