South West Pinnacle Exploration Limited has been empanelled by Oil India Limited to provide 2D/3D Seismic Data Acquisition Services across the latter's onshore acreages in India. This three-year empanelment, effective from June 04, 2026, enables the company to participate in bidding opportunities and tenders issued by Oil India Limited for seismic data acquisition services during the validity period.

The development underscores the company's technical expertise and operational capabilities in geophysical and seismic survey services. By securing this vendor status, South West Pinnacle Exploration Limited gains access to procurement opportunities from a major public sector oil exploration firm.

Empanelment Details

The key parameters of the empanelment are outlined below:

Seismic data acquisition is a critical component of upstream oil and gas exploration, used to map subsurface geological structures and identify potential hydrocarbon reserves. The company believes this empanelment will strengthen its position in the exploration services sector and enhance opportunities for participation in upcoming projects.

South West Pinnacle Exploration Ltd. has executed a Shareholders' Agreement to formalize its 17.5% equity participation in Al Hadeetha Mining LLC, a joint venture company based in Oman. The agreement, signed on May 29, 2026, outlines the governance, funding, and operational framework for the entity, which has been allocated Block 22B by the Ministry of Energy and Minerals, Sultanate of Oman. This strategic move allows South West Pinnacle Exploration Ltd to expand its footprint in the mining sector through international collaboration.

The joint venture involves partnerships with Alara Oman Operations Pty Limited, Al Tasnim Mining LLC, and Al Hadeetha Investment Services LLC. The agreement specifies the rights and obligations of each shareholder, including capital contributions and loan provisions. It establishes a Board of Directors comprising nominee directors from each shareholder to oversee the management and operational matters of Al Hadeetha Mining LLC.

The transaction is classified as a related party transaction and has been conducted on an arm's length basis. Alara Oman Operations Pty Limited is a subsidiary of Alara Resources Ltd, an Australian listed company in which South West Pinnacle Exploration Ltd. and its promoters hold a stake. Additionally, Vikas Jain, the Chairman and Managing Director of South West Pinnacle, holds a directorship in Alara Resources Ltd.

South West Pinnacle has nominated Mr. Vikas Jain as its nominee Board Member on the Board of Al Hadeetha Mining LLC. The company noted that the agreement pertains to the governance and operational management of the joint venture and does not impact the management or control of South West Pinnacle Exploration Ltd itself. The disclosure was made to the National Stock Exchange of India and Bombay Stock Exchange under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Joint Venture

Partner Entities