chairman's speech

Chairman's Speech

Prabha Energy Private Limited (PEPL) is an Oil & Gas Company with business interests in both conventional and unconventional Oil & Gas Exploration and Production.

The Indian economy is on a fast growth track and would need the full support of the energy sector to meet burgeoning expectations. With the impending competition, the response time available will drastically reduce. PEPL needs to be equipped to move with speed and agility. Although the challenges are many, we believe that PEPL is well placed to deliver value in this competitive environment.

Prabha Energy Private Limited aims to discover and develop conventional as well as unconventional fields to meet the growing energy demand. We are very pleased to share that our company has been selected as a strategic partner to carry out development of a world class CBM property, North Karanpura CBM block jointly with the consortium partners, ONGC and IOC. The block benefits both from very prospective reservoir properties, as well as an ideal geographical position within the regional markets. With excellent CBM properties the block is an ideal CBM play. As joint operator for the block, we look forward to develop this high potential asset.

PEPL hasinvested a considerable amount of time and effort in building a strong infrastructure and information system capabilities. With the dedicated team of professionals at all levels, I am confident that PEPL will be able to continue to deliver outstanding results in the days to come.

PEPL employees have been pillars of strength in all our endeavors. The Team PEPL relentlessly strives to exceed industry expectationsand endeavors to create superior value through the use of the best standards of operations, technologies and safety, health and environmental practices. I thank my colleagues on the Board, whose support and leadership has been invaluable, especially at a time when the organization had to deal with major challenges.

Above all, thanks are due toour partners, for the confidence and unflinching belief in our ability to deliver value.As we continue to build a stronger partnership together, we fully recognize the support and continued trust placed in us is the foundation of our success.I would like to take this opportunity to reiterate our commitmentto work towards meeting your high expectations on a sustained basis.

Thank you, Ladies and Gentlemen.