Selan Exploration Technology

Antelopus Selan Energy Limited acquired 1,99,62,358 equity shares through a Composite Scheme of Arrangement between Antelopus Energy Private Limited and Selan Exploration Technology Limited. The scheme was approved by the National Company Law Tribunal, Chandigarh Bench on June 10, 2025, became effective on July 5, 2025, with share allotment completed on August 12, 2025. The acquisition involved four entities: Ms. Payal Upadhyay, Mr. Suniti Kumar Bhat, Mr. Siva Kumar Pothepalli, and Blackbuck Energy Investments Limited. Their combined shareholding increased from 30.46% to 69.94% of the company's voting rights. The company's total equity share capital expanded from INR 15.20 crores to INR 35.16 crores following the transaction. All acquirers are now part of the promoter group post-scheme implementation.

Selan Exploration Technology Limited reported quarterly results showing production of 1,063 boepd compared to 1,177 boepd in the previous quarter and 1,099 boepd in the year-ago period. Total income declined to INR 53.56 crores from INR 64.96 crores in the previous quarter, while net profit decreased to INR 11.22 crores from INR 14.78 crores. The company completed its merger with Antelopus Energy Private Limited (AEPL), with the merged entity to be renamed 'Antelopus Selan Energy Limited.' Production commenced from the KG Basin 'Dangeru' field, marking expansion beyond the Cambay basin. The company completed drilling of 2 new wells in Karjisan with production expected to start by end of August, and announced acquisition of the remaining 50% participating interest in the Cambay Block. EBITDA margins remained consistent at 56% despite lower oil and gas prices, with the oil and gas product mix maintaining approximately 80% oil and 20% gas. The quarterly decline was attributed to a 10% drop in price realizations, natural decline in Bakrol wells after 15 months of consistent production, and key wells being offline due to operational reasons.

Selan Exploration Technology Limited's Board approved unaudited financial results for the quarter ended June 30, 2025. The Board also allotted 1,99,62,358 equity shares with a face value of INR 10 each to shareholders of Antelopus Energy Private Limited as part of a Composite Scheme of Arrangement between the two companies. The allotment was made to shareholders as on the record date of July 5, 2025. The newly allotted shares will remain frozen until listing and trading permission is granted by stock exchanges. The company will apply for listing of these equity shares on stock exchanges.