Indus Gas Ltd - oil and gas explorer and developer with assets in India - Notes recent decline in share price, which says is ‘in no way reflective of the company’s underlying long term value.’ For year to March, expects to report revenue of at least $42.9 million. Says temporarily, gas production has been reduced on account of maintenance of the turbine. Reversion to normal levels is expected in due course when maintenance is completed. Given the recent share price performance, Indus plans to investigate a range of strategic options, including appointing a ‘top tier’ investment bank to find strategic industry partners who have expertise in helping us unlock our significant gas reserves through fracking.
Current stock price: 13.65 pence, up 22% in London on Friday
12-month change: down 93%
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