"Crude oil flowed from its well, Jyoti-1 onto the surface in presence of the Directorate General of Hydrocarbons representative. The well was drilled in compliance with all the technological and ecological standards & requirements to a depth of 2936m penetrating multiple oil and gas shows," the release added.
It may be recalled that Mercator Petroleum was awarded 2 oil blocks in Cambay Basin under NELP VII by Government of India.
The stock opened at Rs 16.35 and touched a high of Rs 19.15 on the BSE. At 12:50PM, over 2.3 million shares were traded on both the stock exchanges.
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