Announcements

The Board of Directors of the Company will meet on 6 May 2009 to approve the Audited Results for the Year Ended 31 March 2009.

Accordingly, the Unaudited Results for 4th Quarter 2008 – 09 will not be published.

A meeting of the Board of Directors is being convened on Wednesday,28 January 2009 to consider, inter – alia, and take on record the Unaudited (Provisional) Financial Results for the quarter ended 31 December 2008.

Based on the report dated 5 January 2009 submitted by Mr. S. R. Iyer (Practising Chartered Accountant), Scrutinizer, the special resolution for buyback of equity shares of the Company, as set out in the notice dated 20.11.2008 sent to the shareholders, has been declared as passed by the requisite majority of the shareholders through postal ballot.

The Board of Directors in their meeting held today, have considered and approved the proposal for Buyback of the Equity Shares of the Company upto 25% of the Paid – Up Share Capital and Free Reserves. The Buyback shall be carried out from the open market through the Bombay Stock Exchange / National Stock Exchange upto a maximum price of Rs. 230/- per share.

A meeting of the Board of Directors is being convened on Thursday, 20 November 2008 to consider the proposal for Buyback of Equity Shares.

A meeting of the Board of Directors is being convened on Thursday, 23 October 2008 to consider, inter – alia, and take on record the Unaudited (Provisional) Financial Results for the quarter ended 30 September 2008.

W.r.t. the Interim Dividend declared by the Board of Directors in their meeting held on 26 September 2008, the date fixed for payment of the same is 24 October 2008.

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.