The Exchange has sought clarification from Oil India Limited with respect to recent news item captioned Undertook seismic studies of blocks acquired from earlier round to chart bidding strategy for OALP-X, Oil India Chief.. The response from the Company is attached.
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The NSE has asked Oil India Limited to clarify a recent news article where the company's chief reportedly discussed undertaking seismic studies of blocks acquired in earlier rounds to plan bidding strategy for the Open Acreage Licensing Policy Round-X (OALP-X). The company has submitted its response to the exchange. The clarification appears to relate to disclosure norms around media statements by company executives regarding exploration and business strategy.
This is a routine exchange clarification request rather than any regulatory action or penalty. It reflects the exchange ensuring the company has adequately disclosed or clarified statements made by its leadership about exploration plans. No material negative impact on shareholders is expected.