Oil wells are found in Rajasthan and Punjab.

Explanation

**Step-by-Step Solution:**

1. **Identify the Statement**: The statement claims that oil wells are found in Rajasthan and Punjab.

2. **Research Oil Well Locations**: To verify the statement, we need to check where oil wells are actually located in India.

3. **List Known Oil Well Locations**: From the information provided, we know that oil wells are found in:
- Assam
- Bombay High (off the coast of Maharashtra)
- Gujarat
- Basins of the Krishna and Godavari rivers

4. **Compare with the Statement**: The statement mentions Rajasthan and Punjab, which are not included in the list of known oil well locations.

5. **Conclusion**: Since oil wells are not found in Rajasthan and Punjab, the statement is false.

**Final Answer**: The statement "Oil wells are found in Rajasthan and Punjab" is false.

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