The Dirok asset seems set to increase output significantly within a year. Other assets hold promise too

Since end-August, the stock of Hindustan Oil Exploration Company (HOEC) has gained more than 50 per cent. The trigger for the rally was the grant of the Petroleum Mining Lease to the Dirok field in Assam, from where HOEC began commercial production in late August. HOEC has 27 per cent stake and is the operator of the field; the partners are public sector majors Indian Oil and Oil India. Phase ...