Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the press release of our Company, the content of which is self-explanatory.
PRABHA · price
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Prabha Energy Limited has started commercial production of Coal Bed Methane (CBM) gas from the North Karanpura CBM Block, where it is acting as a joint operator. The company has begun selling gas through cascades (a temporary method) while the permanent gas evacuation pipeline work is still ongoing, allowing for early revenue generation. Chairman Prem Singh Sawhney described this as a significant milestone in the company's strategy to monetize its gas reserves. The company expects revenues to rise steadily as production scales up. Prabha Energy is positioning itself to benefit from the government's plan to increase domestic CBM gas production to 5.0 MMSCMD by 2027-28.
This is a positive operational milestone for shareholders as the company transitions from an exploration-stage player to a revenue-generating producer, which could support stock price momentum. Early revenue start reduces cash burn concerns, though full financial benefit depends on completion of the gas evacuation pipeline.