Interlink Petroleum (IPL) has entered into a binding Memorandum of Understanding (MOU) with Sun Petrochemicals, through its exploration and production division, Sun Oil & Natural Gas (SONG), for the transfer and assignment from IPL to SONG of the Production Sharing Contracts (PSCs) in respect of its participating interests over the Modhera and Baola fields (the Assets). The Assignment MOU with SONG has been signed going by the financial and technical strengths of SONG.
Given current market conditions and the costs to be incurred by the Company as well as the projected time for the Assets to reach a commercially viable production stage, the Company considers this Assignment to be of benefit to shareholders of the Company. Following the Assignment completion, SONG will invest in the Assets and carry out further work programme for lifting production and monetizing the reserves of the Assets. Assuming that the Assets reach a production stage with certain criteria satisfied, the Company shall participate in the profit sharing with SONG with respect to the Assets.
| Company Name | CMP |
|---|---|
| ONGC | 287.55 |
| Oil India | 463.10 |
| Jindal Drilling&Inds | 543.30 |
| Deep Industries | 490.25 |
| Asian Energy Service | 299.15 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: