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Sunday 11 March 2012

Loyz not fully announcing results of IPL

Interlink Petroleum (IPL) is the subsidiary of Loyz.

The last time Loyz announced IPL's 1st quarter results on 10 Aug 2011  whereby Rs. 0.11 crore net loss was reported.  Ever since, Loyz did not report IPL's net losses in 2nd quarter of Rs. 0.02 crore and 3rd quarter of Rs. 0.09 crore.  Why is Loyz being so selective to announce IPL's results?

IPL's full year 2011 net loss was at Rs. 0.48 crore.
Its nine months results is now at net loss of Rs. 0.39 crore.

Testing of wells in Modhera field and Baola field are ongoing.  Baola field(s) of only 4 sq. km seems promising of  gas production of good quality.  But the bigger Modhera field(s) of 12.7 sq. km is requiring more tests to be carried out and hence more funds are needed.

This is the link to up-to-date news on IPL as one cannot really depends on Loyz to do this matter.

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