{"id":4236,"date":"2010-10-07T11:22:30","date_gmt":"2010-10-07T05:52:30","guid":{"rendered":"http:\/\/www.niftylivecharts.com\/blog\/?p=4236"},"modified":"2010-10-07T11:22:30","modified_gmt":"2010-10-07T05:52:30","slug":"ril-gains-as-gas-reserves-in-d4-block-may-be-double-the-size-of-d6-block","status":"publish","type":"post","link":"https:\/\/www.niftylivecharts.com\/blog\/ril-gains-as-gas-reserves-in-d4-block-may-be-double-the-size-of-d6-block\/","title":{"rendered":"RIL gains as gas reserves in D4 block may be double the size of D6 block"},"content":{"rendered":"

\"\"RIL gains as gas reserves in D4 block may be double the size of D6 block<\/p>\n

Reliance Industries inched up 0.15% at Rs 1,046.20 at 10:33 IST on BSE after the company’s partner Niko Resources raised initial estimates of gas reserves in the D4 block located on the east coast of India.<\/p>\n

Meanwhile, the BSE Sensex was down 23.14 points, or 0.11%, to 20,519.94.<\/p>\n

<\/a><\/p>\n

On BSE, 4.98 lakh shares were traded in the counter as against an average daily volume of 8.74 lakh shares in the past one quarter.<\/p>\n

The stock hit a high of Rs 1,054.80 and a low of Rs 1,044 so far during the day. The stock had hit a 52-week high of Rs 1184.70 on 11 January 2010 and a 52-week low of Rs 840.55 on 1 June 2010.<\/p>\n

The stock had underperformed the market over the past one month till 6 October 2010, gaining 9.59% compared with the Sensex’s 10.68% jump. It had also underperformed the market in past one quarter, falling 2.61% as against 16.63% rise in the Sensex..<\/p>\n

India’s largest private sector company by market capitalisation has an equity capital of Rs 3272.16 crore. Face value per share is Rs 10.<\/p>\n

Reliance Industries (RIL) is the operator of the D4 block with 85% stake. RIL’s partner Niko Resources owns 15% in the block.<\/p>\n

Edward S Sampson, chairman and chief executive officer of Canada-based Niko Resources, told investors in a conference that it feels that reserves at the D4 block are twice the size of the D6 block and have prospectivity of up to an exceeding potential for 100 trillion cubic feet (TCF) gas. However, RIL said that the appraisal process is presently being undertaken and, therefore, will not comment at this juncture.<\/p>\n

RIL’s estimated 40 TCF of gas in place at Krishna Godavari D6 has recoverable reserves of 11.5 TCF, the largest deep-water find in India so far. RIL is the operator of both the D6 and D4 blocks.<\/p>\n

According to reports, the drilling in D4 is expected to start by the end of this financial year or early next financial year, which is when a much better evaluation of the actual prospect for the block can be carried out.<\/p>\n

As per media reports, the development could have a strong impact on RIL and Niko valuations and, thereby, their stocks. With 100 TCF of in-place reserves, this could approach in size some of the largest natural gas blocks in Qatar or Iran.<\/p>\n

Reliance Industries’ net profit rose 32.3% to Rs 4,851 crore on 86.7% increase in net sales to Rs 58,228 crore in Q1 June 2010 over Q1 June 2009<\/p>\n

more details <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

RIL gains as gas reserves in D4 block may be double the size of D6 block Reliance Industries inched up 0.15% at Rs 1,046.20 at 10:33 IST on BSE after the company’s partner Niko Resources raised initial estimates of gas reserves in the D4 block located on the east coast of India. Meanwhile, the BSE […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[8784],"tags":[9477,9476],"class_list":{"0":"post-4236","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-short-headlines","7":"tag-latest-news-of-ril","8":"tag-ril-gains-as-gas-reserves-in-d4-block-may-be-double-the-size-of-d6-block","9":"entry","10":"has-post-thumbnail"},"_links":{"self":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/4236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/comments?post=4236"}],"version-history":[{"count":0,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/4236\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/media?parent=4236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/categories?post=4236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/tags?post=4236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}