''The company is making this rights offer to the shareholders, to part finance the prospect of exploration of oil and gas business as also the recently acquired running coke plants in Gujarat'' said Director of GNMRL Arun Jagatramka.'' A new entrant from the house of Gujarat NRE Coke Ltd, India's largest independent producer of metallurgical coke and the only Indian company to own and operate coal mines in Australia, Gujarat NRE Mineral Resources Limited (GNMRL) owns two oil prospecting blocks in the Canning Basis Region of Western Australia. The size of these blocks is 10,640 square kms, making it the largest among the Indian companies prospecting for oil and gas in Australia. The fact that the region is historically known to be rich in resources and that there are oil bearing wells in the immediate vicinity, make the blocks highly prospective. Field and seismic studies, conducted by the company's team of geologists and geophysicists too point towards this conclusion.