Asian Energy Services Ltd
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BSE Code:
530355
NSE Code:
ASIANOI
Business Profile
Business Profile
Incorporated as a public sector company in 1992, Asian Oilfield Services (ASIOILSE) provides services to oil and gas exploration companies in India. Services provided by the company include shot hole and uphole drilling, seismic data acquisition and seismic job services, seismic data processing and interpretation. The company has provided a range of services to reputed national and multinational Companies. ASIOILSE has technical collaboration with Geophysical Institute of Israel (GII), Israel. GII is a geophysical service company specializing in seismic exploration of oil and gas. The company was established in 1957 by the Israeli government to supply geophysical services to the local oil companies. The registered office of Asian Oilfield Services is situated at Gujarat, India.
Financials
Asian Oilfield Services registered a 594.70% growth in net profits to Rs 34.11 million for the quarter ended June 2007 from a profit of Rs 4.91 million for the quarter ended June 2006.
Net Sales increased 2.84 times to Rs 145.69 million for the quarter ended June 2007 from Rs 51.35 million for the quarter ended June 2006.
Total income rose 184.56% to Rs 146.66 million for the quarter ended June 2007 from Rs 51.54 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 4.87 in the quarter ended June 2007.
Recent Developments
19-NOV-07
Asian Oilfield Services has announced that the Company has secured a Rs 718.6 million order from Oil India for acquisition of 2D Seismic Data in Mizoram to be executed within 14 operative months effective from the date of mobilization. This order is extendable further to acquire more data at mutually agreed terms & conditions.The Company has successfully completed over 300 GLKM of projects work of Rs 40 Crores in Tripura, Assam, Nagaland and Gujarat for ONGC, Jubilant Oil & Gas and Canoro Resources, in the last field season.Asian Oilfield Services is diversifying in related services in Oil and Gas Sectors with an aim to become one of the leading Service providers in Oil field services sector in India.
12-JUN-07
Chartered Capital and Investment has issued a post offer public announcement to the shareholders of Asian Oilfield Services to acquire upto 17,15,420 equity shares of Rs 10 each representing 20% of the fully expanded voting equity capital at a consolidated price of Rs 21.06 per fully paid-up equity share of Rs 10 each comprising of the offer price of Rs 20.50 per fully paid up equity share of Rs 10/- each and the interest of Rs 0.56 calculated @ 10% p.a. for the delayed period from February 27, 2007 to June 06, 2007.
30-JAN-07
Consolidated Securities acquired 1,650,000 (23.55%) shares of the company via preferential allotment.