A small-cap company, South West Pinnacle Exploration Limited (SWPE) is in the news today as the stock price rose sharply, almost hitting its 10% UC at Rs.165.05 and is now trading at Rs,158 levels. Its 52-week high is at Rs.184.

The company announced today that it has received an extension of contract from Reliance Industries (RIL) for imparting services of CBM Production. This is to be done by deploying new set of Rig and other equipment with additional manpower and other resources in the state of Madhya Pradesh, thus doubling the present operations there.

The contract has provision of possible three further extensions of six months each on similar terms and the contract is valued at Rs.158 crore.

CBM production is a non-conventional Oil and Gas source of energy and very few companies in India are imparting such services.

The company said that this contract is expected to start fetching additional revenue from second quarter of FY26 after completion of mobilisation of resources in next 7 months from the date of extension of contract.