Prospects of deep-water oil exploration in India have brightened with the Oil and Natural Gas Corporation (ONGC) striking oil in a well in the KrishnaGodavari offshore area. "This is the first deep-water find in the country. the initial results are very positive," said B C Bora, chairman of ONGC, which has so far invested about Rs 100 crore on collection of seismic data and other deep-water exploration activities.