Oil, gas exploration on full throttle: Mukesh Ambani

The exploration programme of Reliance Industries is going on full throttle
and the signs are very encouraging, according to the annual report for
2005-06.

In his letter to the shareholders, Reliance Industries Chairman and
Managing Director Mukesh D Ambani said:" We believe that we will emerge as
a significant producer of energy, both of oil and natural gas. This will
enable us to enhance India's status as an energy source in the world and
without doubt, give a new dimension to our growth story."

Ambani said the company was pursuing global opportunities in exploration
and production. "We will share our progress in this area with you in the
days to come," he said, adding that the company had the capacity and the
ability to emerge as a significant player on the global energy scene.

Ambani, who is in the process of making a spalsh in the retail space by
Reliance Industries' subsidiary Reliance Retail, opined that a revolution
of rising aspiration was sweeping all parts of India coupled with rapid
expansion and consumption at all levels.

"We are, therefore, planning a pan-India footprint of multi-format retail
in outlets to provide the customer with choice in products and services.
All the outlets will be connected seamlessly through a state-of-the-art
supply chain infrastructure. This initiative has been assidiously planned
to connect the Indian farmer and producer with the consumer directly," he
pointed out.