Jani told CNBC-TV18, "We like Selan Exploration Technology because we feel that there is going to be a very strong production and growth over the next two years from about 240,000 barrels per annum the company is likely to show a jump to almost 500,000 barrels over the next couple of years and the company has enough funds and people in place to complete this production ramp-up."
He further added, "It is a very high operating profit margin at about 47% and we feel that this company is available at a substantial discount to a company like Cairn Energy or ONGC. So we feel that from a valuation standpoint it's looking very attractive and we think that it can give about 35-40% appreciation over the next 12 months."
