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Reliance Industries (RIL)
Energy
Gas production disappointment. According to a press release by Niko Resources
dated February 11, 2011, KG D-6 gas production will stay at current production levels
in FY2012E. Niko has received the communication from RIL and the new production
estimate has been sent to the Directorate General of Hydrocarbons. We have cut
FY2012E and FY2013E KG D-6 gas production to 52 mcm/d and 65 mcm/d and our EPS
to `68.6 (-2.3%) and `74.4 (-2.7%). We retain our REDUCE rating.
Visit http://indiaer.blogspot.com/ for complete details �� ��
Reliance Industries (RIL)
Energy
Gas production disappointment. According to a press release by Niko Resources
dated February 11, 2011, KG D-6 gas production will stay at current production levels
in FY2012E. Niko has received the communication from RIL and the new production
estimate has been sent to the Directorate General of Hydrocarbons. We have cut
FY2012E and FY2013E KG D-6 gas production to 52 mcm/d and 65 mcm/d and our EPS
to `68.6 (-2.3%) and `74.4 (-2.7%). We retain our REDUCE rating.