Quarter 2

16.07.2010

This is to inform that a Meeting of Board of Directors of the Company will be held on Thursday, the 29th July 2010 at 11.00 A M at the Registered Office of the Company to transact the following items.

1) To consider and take on record the Unaudited Quarterly Standalone Financial Results of the Company for the period ended 30th June 2010.

2) To consider and take on record the Unaudited Quarterly Consolidated Financial Results of the Company for the period ended 30th June 2010.

27.07.2010

The Committee today allotted 9,300 ( Nine Thousand Three Hundred only) Equity Shares of Rs.2/- each under Employee Stock Options Scheme (ESOS 2005).

This is for your information and record.

This is to inform that the 9,300 ( Nine Thousand Three Hundred only) Equity Shares of Rs.2/- each allotted under Employee Stock Options Scheme (ESOS 2005) include the allotment of 1500 equity shares to Non-Executive Director of the Company

28.07.2010

“Regarding the insurance claim relating to the sinking of the semi-submersible rig Aban Pearl, the Reinsurers agreed to settle the claim at the assessed insurable value of USD 235 million. Approximately 97% of the claim amount has been received and the balance amount is likely to be received shortly.”

Kindly take the information on record.

“A letter of intent has been received for the deployment of the jack-up rig Aban VII offshore India for a 3 firm wells plus 1 optional well programme. The estimated revenues from the firm period of deployment (with an estimated duration of 120 days) is USD 10.5 million (equivalent to Rs 50 Crores). The deployment is likely to commence during December 2010. “

Kindly take the information on record.

10.08.2010

A contract has been signed with Petrobras, Brazil for the deployment of the drillship Aban Abraham offshore Brazil for a firm period of 5 years. The estimated revenues from the deployment is about USD 494 million (equivalent to approx. Rs. 2285 Crores) plus a potential 3.85% performance bonus. The deployment is likely to commence during the 4th quarter of calendar year 2010.

Kindly take the information on record.

19.08.2010

A Contract has been signed with Cairn Energy India Pty Limited for the deployment of the jack-up rig Aban-II in Ravva block , located offshore East Coast of India, for a 5 firm well plus 2 optional well programme. Cairn Energy India Pty Limited in Joint Venture with ONGC, Videocon and Ravva Oil operates the Ravva block. The estimated revenues from the firm period of the Contract (with an estimated duration of 150 days) is USD 15 million (equivalent to approximately Rs.69.75 crores). The deployment is likely to commence during the fourth quarter of calendar year 2010.

Kindly take the information on record.