The Company has informed the Stock Exchanges as under:

Hardy Exploration & Production (India) Inc., (Hardy), the Operator of the PY-3 Field, has made the following notification to the Company:

“The PY-3 oil field has been temporarily shut-in pending Management Committee approval of the award of a contract for the field's floating production system (FPS). We are working closely with all stake-holders to secure the necessary approvals and recommence production as soon as possible.”

The Company has 21% participating interest in the said Field.