Gujarat Natural Resources Limited (GNRL) has provided a significant operational update on its ongoing drilling campaign, showcasing progress in its oil and gas exploration activities.

Production Milestone Achieved

GNRL and its subsidiary, GNRL Oil & Gas Limited (GOGL), have successfully completed drilling two wells, both of which are now in commercial production. The company reports that field production has reached approximately 400.00 barrels of oil equivalent (BoE) per day, marking a notable achievement in their operational capabilities.

Resumption of Drilling Activities

After a brief one-month pause due to the monsoon season, GNRL has resumed drilling operations on its third well. As of the latest update, the well has reached a depth of 730.00 metres. The company anticipates completing this well by August 20, demonstrating steady progress in its exploration efforts.

Expansion Plans

Following the completion of the third well, GNRL plans to immediately commence drilling of a fourth well in the Kanawara field. This sequential approach underscores the company's commitment to expanding its production capacity and exploring new reserves.

Strategic Investment in Equipment

In a move that signals GNRL's ambition for deeper exploration, the company has contracted a higher-capacity drilling rig. This new equipment is specifically intended for a planned 3,000.00-metre well in the North Kathana field, which is wholly owned by GNRL. Operations at this site are scheduled to begin in the last week of August, potentially opening up new horizons for the company's oil and gas production.

Management Commentary

Shalin A. Shah, Managing Director of Gujarat Natural Resources Limited, stated in the company's disclosure, "We will continue to keep you updated on the progress of this significant initiative." This commitment to transparency aligns with the company's obligations under SEBI regulations and indicates ongoing communication with stakeholders as the drilling campaign progresses.

The operational update from Gujarat Natural Resources Limited reflects a company actively pursuing its exploration and production goals, with a clear roadmap for the coming months. As the drilling campaign advances, investors and industry observers will likely keep a close watch on GNRL's progress and its potential impact on the company's future performance in the oil and gas sector.

Gujarat Natural Resources Limited, a company listed on the Bombay Stock Exchange (BSE), has experienced a significant change in its ownership structure. Rajasthan Gases Limited, also listed on the BSE, has substantially reduced its shareholding in Gujarat Natural Resources through an open market transaction on July 29, 2025.

Transaction Details

Rajasthan Gases Limited disposed of 50,00,000 equity shares of Gujarat Natural Resources Limited through open market transactions. This sale has had a notable impact on Rajasthan Gases' stake in the company:

Regulatory Compliance

The disclosure of this transaction was made in compliance with the Securities and Exchange Board of India (SEBI) regulations, specifically under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Rajasthan Gases Limited submitted the required disclosure to the BSE on July 30, 2025, detailing the changes in their shareholding.

Impact on Ownership Structure

This transaction represents a significant reduction in Rajasthan Gases' ownership of Gujarat Natural Resources Limited. The 3.90% decrease in voting rights could potentially affect the dynamics of shareholder influence within Gujarat Natural Resources.

Company Information

• Gujarat Natural Resources Limited's shares are listed on the BSE Limited.
• The equity share capital of Gujarat Natural Resources remains unchanged at Rs. 1,28,40,26,320/- following this transaction.
• The total diluted share capital of Gujarat Natural Resources after the transaction stands at Rs. 1,53,40,26,320/-.

It's worth noting that Rajasthan Gases Limited is not part of the promoter or promoter group of Gujarat Natural Resources, as per the disclosure.

This transaction underscores the dynamic nature of stock ownership and the importance of transparency in reporting significant changes in shareholding patterns, as mandated by SEBI regulations.