25 Jun 2024 12:00
25 June 2024
Indus Gas Limited
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("Indus" or the "Company")
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Corporate and Operational Update
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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.
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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.
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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.
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The Company looks forward to updating the market further in the future.
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-ENDS-
For further information please contact:
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Indus Gas Limited  | |
Jonathan Keeling  | +44 (0) 20 8133 3375 |
Strand Hanson Limited (Nominated & Financial Adviser and Broker) Â | |
Ritchie Balmer, Rory Murphy
| +44 (0) 20 7409 3494 |
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