Announcements

The Arbitral Tribunal, constituted by Selan Exploration Technology Ltd. and the Government of India (through the Ministry of Petroleum and Natural Gas) to resolve their disputes pertaining to the interpretation of the articles related to sharing of Profit Petroleum in the Lohar Production Sharing Contract (“PSC”), has made its Award yesterday.

The Company is in the process of reviewing this Award, which appears prima – facie to be in favour of the Company on the issue of interpretation of the clauses pertaining to sharing of Profit Petroleum with the Government of India under the PSC.

The Award also states that the date of signing of PSC shall be the Effective Date for purposes of calculating the 100% Cost Recovery Period for all Contract Costs.

The financial implications of the Award are being studied and will be conveyed to the shareholders in due course of time.

A meeting of the Board of Directors of the Company is being convened on Tuesday, 27 April 2010 to consider and adopt, inter-alia, the Unaudited Financial Results (Provisional) of the Company for the quarter ended 31 March 2010.

A meeting of the Board of Directors of the Company is being convened on Thursday, 21 January 2010 to consider, inter-alia, and take on record the Unaudited (Provisional) Financial Results for the quarter ended 31 December 2009.

The Board of Directors at their meeting held on 6 November 2009 have decided to close the Buy-Back of Equity shares from Open Market w.e.f 10 November 2009.

A meeting of the Board of Directors of the Company is being convened on Thursday, 29 October 2009 to consider, inter-alia, and take on record the Unaudited Financial Results of the Company for the quarter ended 30 September 2009.

The date fixed for payment of the Interim Dividend [declared by the Board of Directors in their meeting held on 25 July 2009] is 21 August 2009.

The following correction be noted in Annual Report Page 6 – No. 11 (iii) Book Closure date and Notice for AGM – Notes No. (3): ” 2 September 2009 to 8 September 2009 ” to be read as ” 4 September 2009 to 8 September 2009″.

The Annual General Meeting of the Company is scheduled to be held on Tuesday, 8 September 2009.
The Register of Members and Share Transfer Books of the Company will remain closed from Friday, 4 September 2009 to Tuesday, 8 September 2009 (both days inclusive) in connection with the ensuing Annual General Meeting.

The Board of Directors have declared an Interim Dividend of Rs. 1.50 per equity share, for the financial year 2009-10.

The Record Date for the purposes of Interim Dividend has been fixed as 4 August 2009.

A meeting of the Board of Directors of the Company is being convened on Saturday, 25 July 2009 to consider, inter-alia, and take on record the Unaudited Financial Results of the Company for the quarter ended 30 June 2009 and to consider declaration of Interim Dividend for the financial year 2009-10, if any, on the Equity Shares of the Company.