Antelopus Selan Q2 FY27 Net Profit at ₹57.3 Cr

Average production: 1,656 barrels of oil equivalent per day (boepd) in Q2 FY27, compared to 1,705 boepd in Q1 FY27 and 1,107 boepd in Q2 FY26
Bakrol field: All 10 wells drilled and fracked with campaign complete; post-frac production flowing since mid-Q2; current production at 950+ boepd
Karjisan field: 2 of 7 wells drilled ahead of schedule (originally planned for Q4); new production expected from end November 2026; all 7 wells to be drilling by April 2027
Cambay field: 1-2 wells planned in Q4 FY27 targeting Western/Central area of the block
Regulatory approval for up to 55 additional wells at Bakrol, enabling continuous drilling until 2030

DSF-IV licenses awarded: Added 7 new fields to KG Onland portfolio (Yedurulanka, Thanelanka, Bantumilli, Bantumilli South, Vanadurru South, Medapadu, Chintalapalli)
Cluster development approach: Shared facilities and targeted drilling to fast-track production in KG Onland
Cambay Onland additions: Pasunia 1, Pasunia 2, Uber, and Ognaj discoveries closer to existing producing fields
Target: Create onshore portfolio of 5,000+ boepd by FY29
Continuous capex cycle planned in Cambay Basin for next 3-4 years

Revenue from Operations: ₹121.7 (Q1 FY27: ₹133.1; Q2 FY26: ₹56.3)
Less: Profit Petroleum to GOI: ₹2.6 (Q1 FY27: ₹2.1; Q2 FY26: ₹1.1)
Net Revenue from Operations: ₹119.1 (Q1 FY27: ₹131.0; Q2 FY26: ₹55.1)
Other Income: ₹8.1 (includes ₹6.5 crore cess refund for FY21-FY23; Q1 FY27: ₹1.2; Q2 FY26: ₹2.3)
Total Income: ₹127.2 (Q1 FY27: ₹132.2; Q2 FY26: ₹57.5)

Operating Expenses: ₹4.8 (Q1 FY27: ₹6.3; Q2 FY26: ₹4.6)
Handling and processing charges: ₹1.3 (Q1 FY27: ₹1.2; Q2 FY26: ₹0.9)
Changes in inventories: (₹0.3) (Q1 FY27: (₹0.7); Q2 FY26: ₹1.0)
Employee benefits: ₹4.2 (Q1 FY27: ₹4.6; Q2 FY26: ₹3.4)
Royalty and Cess: ₹20.5 (Q1 FY27: ₹21.0; Q2 FY26: ₹10.4)
Other expenses: ₹6.7 (Q1 FY27: ₹6.6; Q2 FY26: ₹5.5)
Total Expenses: ₹37.2 (Q1 FY27: ₹39.1; Q2 FY26: ₹25.7)

EBITDA: ₹90.0 (Q1 FY27: ₹93.1; Q2 FY26: ₹31.8)
Finance cost: ₹0.2 (Q1 FY27: ₹0.1; Q2 FY26: ₹0.2)
Depreciation and Amortization: ₹13.2 (Q1 FY27: ₹10.3; Q2 FY26: ₹15.8)
Profit Before Exceptional Items & Tax: ₹76.6 (Q1 FY27: ₹82.7; Q2 FY26: ₹15.8)
Exceptional Items: None (Q1 FY27: ₹10.0)
Current Tax: ₹11.2 (Q1 FY27: ₹9.1; Q2 FY26: ₹1.6)
Deferred Tax: ₹8.1 (Q1 FY27: ₹9.3; Q2 FY26: ₹2.4)
Net Profit: ₹57.3 (Q1 FY27: ₹54.3; Q2 FY26: ₹11.8)
Total Comprehensive Income: ₹57.6 (Q1 FY27: ₹53.8; Q2 FY26: ₹11.9)

Total Assets: ₹978.36
Non-Current Assets: ₹735.64
Property, Plant and Equipment: ₹473.13 (Oil & Gas assets: ₹429.09; Others: ₹44.04)
CWIP: ₹187.02
Right of use assets: ₹9.50
Intangible assets: ₹56.39 (Oil & Gas assets)
Intangible Assets under development: ₹0.16
Other financial assets: ₹2.14
Non-Current Tax Asset: ₹0.56
Other Non-Current Assets: ₹6.74
Current Assets: ₹242.72
Inventories: ₹42.74
Investments: ₹41.84
Trade receivables: ₹91.82
Cash and cash equivalents: ₹10.21
Other bank balances: ₹48.25
Other financial assets: ₹1.22
Other current assets: ₹6.64

Cess refund of approximately ₹6.5 crore received for FY21-FY23, recognized as other income in Q2 FY27
All assets have favorable fiscal terms with net entitlement to operator >60%
Company holds approximately 1,600 Sq Km of acreage with mix of onshore and offshore portfolio
40+ years of oil & gas operator experience in India

Target exit production rate: 2,500 boepd
Bakrol wells have 10-15% annual decline rate, requiring 2-3 wells per campaign to maintain flat production
Karjisan wells pay back within 1 year
KG Onland expected to add volumes from next year
Duarmara workovers and oil recovery to add additional volumes