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Exxoteq Corporation Ltd.

BSE: 526498 Sector: Oil & Gas
NSE: N.A. ISIN Code: INE860B01017
BSE 05:30 | 01 Jan Exxoteq Corporation Ltd
NSE 05:30 | 01 Jan Exxoteq Corporation Ltd

Exxoteq Corporation Ltd. (EXXOTEQCORPN) - Company History

Promoted as a private limited company in Aug.'82 by chairman and managing director P V S Sawhney Bombay Offshore Supplies & Services (BOSS) now called Zenergy Ltd was converted into a public limited company in Nov.'88. The company primarily engages in specialised services in the field of oil and gas exploration and development on-land and offshore for the Indian and overseas market.In Apr.'94 BOSS came out with its initial public offering aggregating Rs 18 cr to finance the cost of statutory dry-docking to repair the offshore drilling rig and anchor handling tug and to meet capital expenditure to equip the rig. The project cost was estimated at Rs 18 cr.But BOSS was unable to retrieve the rig as it failed to pay the statutory dues on time.The company expects to launch the Proprietory Technology after securing worldwide patenting during the 1st quater of 2002. It also started operating under its new name and actively participated in bidding/securing various infrastructure and power projects that are at an advanced stage of development. The Overseas Turnkey Oil Drilling Contracts have been successfully negotiated and the project executions and operations are expected to commence in the early 2003.