- Incorporated in 1983
- Commenced business in 1991
- ENI Spa, Italy holds 47.18% equity stake.
- Presence in 90 counities
- Participating interest in 9 oil and gas fields - Cambay Basin, Cauvery Basin, Assam Arakan Basin, Rajasthan Basin etc.
- HOEC Bardahl India - Wholly owned subsidary - markets high performance fuels.
- MASSIVE SET BACK :
- After impairment assessment of 'PY 1 field reserves' in Dec 2012, HOEC recognized impairment loss of Rs.459.3 Crores and additional depletion of Rs.112.5 Crores.
- This total loss of Rs.571.9 Crore was treated as 'Exceptional Item.'
- Proven reserves were revised down to Rs.120.2 billion cubic feet.
- Due to these downward revision of reserves resulting in impairment loss, HOEC reported consolidated loss of Rs.552.5 Crores in FY 2013.
- Stock hit 52 Week (1 year) low of Rs.46.6
- Mutual funds are gradually increasing their equity holdings in HOEC to 2.3%
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