They did 2.5 lakh barrels last year.

From the Management on 26th August 2009:

Q: Which of these fields Bakrol, Indrora or Lohar are you most bullish on for and by when do you think, which quarter going forward do you expect enhanced production to come in. I am not asking you to disclose how much you expect but in which quarter do you think more production might start?
A: In 2010-2011, should see different production rates than we have this year and probably that would mean starting with the first quarter of that year. As far as the potential is concerned, we have much more knowledge about the Bakrol field but there is every reason to believe that the Indrora field will contain far larger quantities of recoverable oil.

Q: So fiscal year 2011, starting next April, will see a dramatic and discontinuer shift in your revenue profile from the current year?
A: Yes. It will begin to see. Over the next two-three years the production levels should change quite dramatically but starting with 2010–2011 definitely we should begin to see different production rates.

Q: How much capex would you need to spend over the next 12–18 months?
A: Over the next 12–24 months, we will spend probably another Rs 100 crore. We have spent about Rs 100 crore to appraise and develop these fields and build the necessary infrastructure over the last few years. But the real question is beyond that what is the capex requirement and that would be a function of what the recovery rates we feel can be achieved. So that would indicate to us that okay you need to drill X number of wells and we know approximately how much each well costs us. However, the capex is also a function of getting the necessary approvals because you might need to drill certain number of wells that you have to carry the DGH with you and convince them so that has to be brought into the picture over the next year to 18 months.


From the above conversation we can conclude that:

1. if Bakrol field has 73 million of proven reserves then Indrora field will have much more reserves as said by management that Indrora field will have far more reserve.

2. They will be spending Rs.100 crore on capex. how will this get funded? however they have reserves but not sure how much. hope the profits or EPS will not be affected with this.

3. Also they mentioned that production will be ramped up significantly from current 2.5lk barrels to 10lk barrels in two years time, though they didnt gave exact nos. but it is anticipated. This sounds good and I think Oil prices will remain firm between $70 to $100 for next few years.

Selan Exploration is interestingly poised from a longer-term perspective. We feel that the company owns five oilfields of which it is right now extracting oil from just one field, which has reserves of over 70  million barrels

 

read full report from link below.

http://www.moneycontrol.com/news/stocks-views/selan-exploration-has-target-rs-382tater-_485545.html