Announcements

The Members of the Company in the 23rd Annual General Meeting held on Wednesday, 17 September 2008, have unanimously approved all the items mentioned in the Notice dated 29 July 2008, convening the said AGM.

The Energy and Petrochemicals Department (EPD), Government of Gujarat have, on 5 August 2008 granted the Mining Lease for development of OGNAJ oilfield to the Company.

The Register of Members & Share Transfer Books of the Company will remain closed from 6 September 2008 to 17 September 2008 (both days inclusive) for the purpose of payment of dividend & Annual General Meeting (AGM) of the Company to be held on 17 September 2008. The final dividend, if approved by the members at the AGM, will be paid on or after 19 September 2008 to the members whose names appear on the Register of Members as on 6 September 2008 in respect of physical shares. In respect of dematerialised shares the dividend will be payable to the “beneficial owners” of the shares whose names appear in the statement of Beneficial Ownership furnished by NSDL/CDSL at the close of business hours on 5 September 2008.

A Meeting of the Board of Directors of the Company will be held on Tuesday, 29 July 2008, to discuss, inter-alia, the following agenda :

1. To consider and take on record,
2. the Audited Financial Results for the year ended 31 March 2008.
3. the Unaudited (Provisional) Financial Results for the quarter ended 30 June 2008.
4. To consider declaration of final dividend for the year 2007 – 08, on the equity shares of the Company.

The Board of Directors in their meeting held today, have approved a preferential allotment of upto 18,00,000 Zero Coupon convertible warrants at a price of Rs. 165/- per warrant carrying a right to subscribe to equal number of equity shares in the company on conversion within a period of 18 months from the date of allotment, in cash aggregating to Rs. 29,70,00,000 to a combination of members, promoters and Person Acting in Concert, at a price of Rs. 165/- per warrant (computed in accordance with SEBI DIP Guidelines).

A Meeting of the Board of Directors of the Company will be held on Monday, 28 January 2008 to consider and take on record inter-alia Unaudited (Provisional) Financial Results for the quarter ended 31 December 2007.

A Meeting of the Board of Directors of the Company will be held on Tuesday, 30 October 2007 to consider and take on record inter-alia Unaudited (Provisional) Financial Results for the quarter ended 30 September 2007.

The Twenty Second Annual General Meeting of the Company will be held on Monday, 24 September 2007 at 10 : 00 A.M. at Ashok Country Resort, Rajokri Road, Kapashera, New Delhi – 110 037 to transact the business stated in the Notice sent to Members at their registered addresses.

It is further informed that Register of Members and Share Transfer Books of the Company will remain closed from Monday, 17 September 2007 to Monday, 24 September 2007 (both days inclusive).

A Meeting of the Board of Directors of the Company will be held on Tuesday, 31 July 2007 to consider and take on record inter-alia, the Audited Results for the financial year ended 31 March 2007 and Unaudited (Provisional) Financial Results for the quarter ended 30 June 2007 and to approve the notice for the Annual General Meeting for the year 2006-07.

A Meeting of the Board of Directors of the Company will be held on Saturday, 28 April 2007 to consider and take on record inter-alia, the Unaudited (Provisional) Financial Results for the quarter ended 31 March 2007.