Assam Co gets back to exploring

Assam Company which had hit a new 52-week on 7^th June’13 is today up almost 2% at Rs.4.18, its intra day high. Market cap stands at Rs.129 crore.

This small cap stock, which is essentially into a tea and coffee plantations, is talking about resuming its other core activity – resume oil and gas exploration. The company has been granted permission to conduct seismic surveys on its oil block AA-ONN-2005/1. This block was awarded to te company under New Exploration Licensing Policy (NELP) VII round to a consortium of Assam Co, Oil India and ONGC. The company received the petroleum exploration licence Dec’10.