Antelopus Selan Energy Reports Strong Q3FY26 Performance with 35% Production Growth

Antelopus Selan Energy Limited has delivered robust Q3FY26 results, showcasing significant operational improvements across its oil and gas portfolio. The company achieved average sales of 1,498 barrels of oil equivalent per day (boepd), marking a substantial 35% quarter-on-quarter growth from 1,107 boepd in Q2FY26.

Financial Performance Highlights

The company's financial metrics demonstrated strong improvement across key parameters during Q3FY26:

Metric	Q3 FY26	Q2 FY26	Q3 FY25	QoQ Change	YoY Change
Total Income	₹73.02 cr	₹57.45 cr	₹66.20 cr	+27.1%	+10.3%
EBITDA	₹46.61 cr	₹31.75 cr	₹37.53 cr	+46.8%	+24.2%
Net Profit	₹28.50 cr	₹11.81 cr	₹17.83 cr	+141.3%	+59.8%
Average Sales	1,498 boepd	1,107 boepd	1,244 boepd	+35.3%	+20.4%

Despite facing headwinds from lower oil and gas price realizations, which declined by approximately 9% quarter-on-quarter and 17% year-on-year, the company's volume-driven growth strategy delivered exceptional results. The oil and gas product mix contributed approximately 86% oil and 14% gas to total revenues.

Strategic Field Development Updates

The company made significant progress across its key development projects during the quarter:

Karjisan Field Operations

Parameter	Details
Wells Completed	3 of 4 new wells producing
Fourth Well Timeline	February 2026
Full Production Impact	Expected mid-Q4 FY26
Future Plans	New Field Development Plan in progress

Three of the four new Karjisan wells are currently on production, with the fourth well scheduled to commence operations in early February 2026. The company expects full production impact from all four wells by mid-Q4 FY26, with preparations underway for a new Field Development Plan to drill additional wells.

Duarmara Field Discoveries

The Duarmara field development yielded promising results with gas encountered in lower Tipam sands and oil discovered in upper Tipam sands. The oil, characterized as light in nature with approximately 37° API, was not initially anticipated in this area. A workover rig is being contracted to continue extended testing to establish the commerciality of these oil zones.

Cambay and Bakrol Field Progress

Cambay field operations delivered incremental production improvements through successful workover activities and new well drilling:

Workover Operations: Resulted in incremental oil production of approximately 40-50 barrels of oil per day from December 2025 onwards
New Well C-78: Drilled in the eastern part of the field, successfully flowed gas during clean-up and testing operations
Bakrol Campaign: Two of ten planned new wells have been drilled, with production ramp-up expected from end-February onwards

Production Portfolio Breakdown

The Q3FY26 sales volumes across the company's asset portfolio demonstrated balanced contribution:

Field	Participating Interest	Sales Volume (boepd)
Bakrol	100%	551
Karjisan	100%	818
Lohar	100%	55
Dangeru	100%	60
Cambay	50%	12
Total		1,497

Regulatory and Operational Developments

A significant regulatory development occurred during the quarter with the notification of the Oilfields (Regulation and Development) Amendment Act, 2025, which provides for extension of tenure for Production Sharing Contracts. Consequently, the company extended the amortization period for Bakrol, Lohar, and Cambay fields by 10 years, fully compliant with applicable Indian Accounting Standards.

The company maintains its production ramp-up trajectory, positioning itself to achieve an exit rate of 1,800+ boepd by March 2026, with continued growth and further acceleration expected in FY27. The strong quarter-on-quarter volume-driven growth, coupled with substantial EBITDA improvement, demonstrates the company's operational excellence and strategic execution capabilities.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.08%	-0.24%	+7.08%	-32.67%	-43.42%	+222.85%

Antelopus Selan Energy Limited has issued a formal response to the BSE regarding inquiries about recent price movements in its securities. The company addressed concerns raised by the exchange's surveillance department through an official communication dated January 20, 2026.

BSE Surveillance Inquiry

The BSE surveillance department had sought clarification from the company on January 19, 2026, regarding unusual price movements in Antelopus Selan Energy Limited's securities. The exchange inquiry was part of routine surveillance activities to ensure market transparency and compliance with listing regulations.

Company's Official Response

In its response, Antelopus Selan Energy Limited emphasized its commitment to regulatory compliance and transparency. The company provided the following key clarifications:

Parameter	Details
Regulatory Compliance	Regular intimation to stock exchanges maintained
Material Events	No undisclosed material events requiring disclosure
Price Movement Attribution	Purely market-driven factors
Regulation Reference	SEBI (LODR) Regulations, 2015 - Regulation 30

Regulatory Compliance Statement

The company stated that it maintains regular communication with stock exchanges regarding material information as required under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. Antelopus Selan Energy Limited assured continued compliance with these regulations going forward.

Market-Driven Price Movement

The company explicitly stated that there are currently no material events requiring disclosure under SEBI regulations. Management attributed the recent share price movements to normal market dynamics rather than any specific corporate developments or undisclosed information.

Corporate Authorization

The response was officially signed by Yogita, Company Secretary and Compliance Officer (Membership No. 62611), on January 20, 2026. The communication was digitally signed and submitted as part of the company's regulatory compliance obligations to address the exchange's surveillance inquiry.