25 June 2024
Indus Gas Limited
("Indus" or the "Company")
Corporate and Operational Update
We wish to inform that the Production Sharing Contract ("PSC") for Block RJ-ON/6, which provided for an initial contract period of 25 years, expires on 20 August 2024. The PSC also provides for an extension for a 10 year period thereafter by mutual agreement with the Government of India for the natural gas fields.
Extension of the PSC for Block RJ-ON/6, for a further period of 10 years from August 2024, has been applied for and is under consideration by the Government of India.
Further to the Company's 17 May 2024 announcement, it is noted that gas sales remain at a reduced level due to the ongoing maintenance of ultimate customer power plant, which is still to be completed.
The Company looks forward to updating the market further in the future.
-ENDS-
For further information please contact:
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Indus Gas Limited
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Jonathan Keeling
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+44 (0) 20 8133 3375 |
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Strand Hanson Limited (Nominated & Financial Adviser and Broker)
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Ritchie Balmer, Rory Murphy
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+44 (0) 20 7409 3494 |
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