2007-08 Quarter3 announcements


31.12.2007

This is to inform that a Meeting of Board of Directors of the Company will be held on Saturday the 12th January 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 ending on 31st December 2007.

21.12.2007

"A subsidiary of Aban Offshore Limited has entered into a Contract with Chevron Offshore (Thailand) Limited (`Chevron`) for provision of the jack-up drilling rig, Deep Driller 2. The contract with Chevron will be for an estimated duration between 5 and 7 months for drilling operations offshore Thailand. This contract will commence around end of December 2007. The contract value is approximately USD 28 million to USD 40 million."

21.12.2007

The Company has received Notices for conversion of Bonds of an amount aggregating to JPY 1410,000,000 (141 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 21st December 2007 allotted 1,93,549 Equity Shares of Rs.2/- each fully paid.

15.12.2007

The Company has received Notices for conversion of Bonds of an amount aggregating to JPY 50,000,000 (5 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 15th December 2007 allotted 6,863 Equity Shares of Rs.2/- each fully paid.

8.12.2007

The Committee today allotted 690 ( Six Hundred and Ninety only) Equity Shares of Rs.2/- each to the Employees of the Company under ESOS 2005.

3.12.2007

The Company has received Notices for conversion of Bonds of an amount aggregating to JPY 440,000,000 (44 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 3rd December 2007 allotted 60,397 Equity Shares of Rs.2/- each fully paid.

22.11.2007

The Company has received Notices for conversion of Bonds of an amount aggregating to JPY 680,000,000 (68 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 22nd November 2007 allotted 93341 Equity Shares of Rs.2/- each fully paid.

21.11.2007

Further to the Stock Exchange announcement made on September 13, 2007 we would like to inform you that Aban Pearl Pte. Ltd.(AAPL) a wholly owned Subsidiary of Aban Singapore Pte Ltd. (ASPL), a wholly owned subsidiary of our Company has completed the purchase of the Semi-Submersible Rig “ Bulford Dolphin” (being renamed “Aban Pearl”) today.

17.11.2007

The Company has received Notice for conversion of Bonds of an amount aggregating to JPY 400,000,000 (40 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 17th November 2007 allotted 54906 Equity Shares of Rs.2/- each fully paid.

14.11.2007

The Company has received Notice for conversion of Bonds of an amount aggregating to JPY 180,000,000 (18 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 14th November 2007 allotted 24708 Equity Shares of Rs.2/- each fully paid.

10.11.2007

The Company has received Notice for conversion of Bonds of an amount aggregating to JPY 1,020,000,000 (102 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 10th November 2007 allotted 1,40,011 Equity Shares of Rs.2/- each fully paid.

6.11.2007

The Company has received Notice for conversion of Bonds of an amount aggregating to JPY 680,000,000 ( 68 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 6th November 2007 allotted 93,342 Equity Shares of Rs.2/- each fully paid.

5.11.2007

The Company has received Notice for conversion of Bonds of an amount aggregating to JPY 210,000,000 ( 21 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 5th November 2007 allotted 28826 Equity Shares of Rs.2/- each fully paid.

2.11.2007

Mr P Venkateswaran, Deputy Managing Director of the Company has sold 2000 equity shares of Rs.2/- on 02.11.2007 of Aban Offshore Limited. The Shareholding of Mr P Venkateswaran after the sale is 7605 equity shares aggregating to 0.0205 % of the paid up capital of Aban Offshore Limited

31.10.2007

The Company has received Notice for conversion of Bonds of an amount aggregating to JPY 700,000,000 ( 70 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 31st October 2007 allotted 96087 Equity Shares of Rs.2/- each fully paid.

22.10.2007

The Company has received Notice for conversion of Bonds of an amount aggregating to JPY 400,000,000 ( 40 Foreign Currency Convertible Bonds of face Value of JPY10,000,000/- each). Accordingly as per the terms of Offering Circular dated 31st March 2006, the Company on 22nd October 2007 allotted 54907 Equity Shares of Rs.2/- each fully paid.

19.10.2007

Mr P Venkateswaran, Deputy Managing Director of the Company has sold 2500 equity shares of Rs.2/- on 18.10.2007 of Aban Offshore Limited. The Shareholding of Mr P Venkateswaran after the sale is 9605 equity shares aggregating to 0.0259 % of the paid up capital of Aban Offshore Limited

12.10.2007

The Committee today allotted 960 ( Nine Hundred and Sixty Only) Equity Shares of Rs.2/- each to the Employees of the Company under ESOS 2005.

10.10.2007

Contract for deployment of jack-up rig Aban VI has been extended by a further period of 6 years, in direct continuation of its existing contract expiring in October 2007. The Operating Day Rate (ODR) for the initial 3 years of the extension period is Euro 62,450 and the ODR for the remaining 3 years shall be as mutually agreed.”