I thought petroleum mining was tied more to current crude oil prices rather that anybody's whims. Even if they don't want to search for oil, $100 barrel forces people to. So shouldn't we care more about the future price of oil rather than who's sitting in Dilli?
India is hugely dependent on oil import. Prices being high or low this import dependence puts India in a vulnerable position strategically. The current government wishes to reduce this and there is no other way except to start drilling more for oil & gas. Alphageo benefits from this tailwind. It has no direct correlation with oil prices as NSP is more of strategic in nature.
However, if oil prices harden there will be more global opportunities for alphageo as seismic survey activities will increase worldwide.