2005-06 Quarter 1 announcements

09/06/2005 - The Company has entered into an Agreement with Rowandrill Inc of Texas USA for purchase of a Offshore Jackup Drilling Rig named ROWAN TEXAS subject to relevant approvals from statutory authorities.

06/06/2005 - Credit Analysis & Research Ltd (CARE) has assigned a rating of CARE A(RPS) for the proposed Rs.150 Crores Redeemable Preference Shares of the Company .

23/04/2005 - Members at the Extraordinary General Meeting of the Company held on 23rd April 2005 had approved the following
a) Subdivision of fully paid Equity Shares of face value of Rs.10/- each in to 5 fully paid Equity Shares of face value of Rs.2/- each.
b) Subdivision of partly paid Equity Shares of face value of Rs.10/- each of which Rs.5/- per share paid up into partly Equity Shares of face value of Rs.2/- each of which Re.1/- per share paid up.

The Board has accordingly fixed the record date as 11th May 2005 for sub- division of Equity Shares.