Assam Onshore - Antelopus Energy

The Contract Area is located in the proven Assam Shelf Basin and is surrounded by many producing fields
The Contract Area was awarded to Oilmax Energy in Discovered Small Fields – Bid Round 1
Antelopus Energy farmed into the Contract Area with 50% Participating Interest & Joint Operatorship
We have re-interpreted the data and re-estimate the in-place volumes & also has had the estimates Certified by Gaffney Cline & Associates.
The overall in-place Resource potential of the Contract Area @ 120mmboe
the company has completed an e-anchor process for DUarmara Contract Area. The discovered gas price had (APM +0.7) $/mmbtu
The contract area has good fiscal terms, with average Government of India share of Revenues is <50% (this is inclusive of Revenue share and Royalty)
Independent Assessment of the Contract Area , also suggests that there are deeper oil pool s& our current plan is to Apprise the zones in subsequent phases.

Field Develpoemt plan has been approved by the regulator
Current development plan consists of drilling 6 wells ( 1 well every year) to monetize ~20mmboe of Reserves
All key risks including but not limited to resource risk, execution risk and market risk have been sufficiently factored in and de-risked.
Indradhanush pipeline commissioning will connect over gas to national gas grid thereby providing us with better realization