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Hindustan Oil Exploration - Ramp Up In Volumes To Ensure Growth Visibility Going Ahead: HDFC Securities

Hindustan Oil Exploration - Ramp Up In Volumes To Ensure Growth Visibility Going Ahead: HDFC Securities

<div class="paragraphs"><p>Oil exploration activities carried out by Hindustan Oil Exploration Company Ltd. (Source: Company website)</p></div>
Oil exploration activities carried out by Hindustan Oil Exploration Company Ltd. (Source: Company website)

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HDFC Securities Retail Research

There has been an improvement in the business fundamentals and the Hindustan Oil Exploration Company Ltd. updated key operational development regarding the B-80 project over the period.

Due to some technical hurdle at D-1 well in B-80 block, the stock has underperformed. However, Hindustan Oil Exploration Company portfolio comprises 10 oil and gas blocks of discovered resources and one exploratory block, all of which have resources with some upside potential.

Over the next two years, the company expects significant ramp up in volumes which would ensure growth visibility going ahead on account of rising production in B-80 and premium in the North-east gas of $1 to $6.1 per metric million British thermal unit.

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HDFC Securities Retail Research Stock Update - HOEC.pdf

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