Selan Exploration is currently quoting at Rs.156, which is slightly below your purchase price. Before you take a decision on Selan, you must understand about the prospects of the company. 

Selan was established in the year 1985 and currently operates 4 oil wells in the Cambay Basin in the state of Gujarat. The advantage for the company is that it is a debt-free company and hence cash flows are not really pressured. The only risk to the company is the risk of weak oil prices, which looks unlikely for now with the uncertainty around the Strait of Hormuz at this point of time. Also, the P/E valuation of the company is just about 4X and therefore the downside risk is quite limited on the stock. The zero debt status becomes a major advantage for the company. The Enterprise Valuation of the company in terms of barrels of oil is almost a fifth of the global standards opening a big potential for the stock. 

You have bought the stock at a price that has corrected substantially. Downside risks from these levels are quite limited. Keep a slightly longer perspective of 1-2 years on the stock and just hold on for now.