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Indus Gas Ltd - oil and gas explorer and developer with assets in India - Says it is still waiting for an extension to the production sharing contract for Block RJ-ON/6. Gas sales to Indian state-owned natural gas company Gail (India) Ltd and associated revenue remains low. It expects an extension to the PSC to facilitate a renewed contract with Gail.
Indus says it will seek further funding ‘as and when required’, from sources potentially including shareholders.
Current stock price: 6.50 pence, down 10% in London on Friday afternoon
12-month change: down 91%
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