18/04/2008 - Board Meeting - A Meeting of Board of Directors of the Company will be held on Tuesday the 29th April 2008 at the Registered Office of the Company at “ Janpriya Crest ” 113 Pantheon Road, Egmore, Chennai 600 008 to take on record the unaudited, estimated Quarterly Financial Results of the Company for the period ended 31st March 2008. -

15/04/2008 - Contract for Rig - A Contract has been signed with Exxon Neftegas Limited for the deployment of the Jack-up rig Murmanskaya Offshore Russia for a 2 well programme. The estimated revenues from the Contract (with an estimated duration of approx 160 days) is approx USD 34 Million. The deployment is to commence in direct continuation of its present contract which is expected in June 2008. -

19/03/2008 - Operation Contract Aban VIII - A Letter of Intent has been received for the deployment of the newly built jack-up rig Aban VIII in the Middle East for a 18 wells plus 4 optional wells programme. The estimated revenues from the Contract (with an estimated duration of approx. 4 years) is approx. USD 300 million. The deployment is to commence following delivery of the rig, which is expected in the second quarter of 2008. -

08/03/2008 - Outcome of Board Meeting - The Board of Directors of the Company at their meeting held on 8th March 2008 had considered the proposal to raise funds by issue of Non- Convertible Cumulative Redeemable Preference Shares upto Rs.194 crores, in one or more tranches, on private placement basis. A committee was formed for this purpose to consider the proposal and do the necessary acts as may be required in this regard

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07/03/2008 - Board Meeting - The Meeting of Board of Directors scheduled to be held on Saturday, the 8th March 2008. The Board will consider the Agenda Item regarding raising of Funds through issue of Non –Convertible Cumulative Redeemable Preference Shares on Private Placement basis in one or more tranches. -