2008-09 Quarter 3 announcements

2-12-2008

The Operator with whom a Contract has been entered into for the deployment of the jack-up Rig “Deep Driller 4”, has declared the first of the two “six-month” options, which is likely to commence in the 4th quarter of year 2008, following the end of the 12 month firm period. The estimated revenues from this optional period would be approximately USD 36 million.

20-10-2008

Meeting of Board of Directors of the Company will be held on Thursday, the 30th October 2008 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 September 2008.

2) To consider and take on record the Unaudited Quarterly Consolidated Financial Results of the Company for the period ended 30th September 2008.

3-10-2008

A Letter of Award has been received for the continued deployment of the rig Deep Driller 3 offshore Malaysia for a 4 year period in direct continuation of its present contract, which is expected to end early October 2008. The estimated revenues from the contract would be approx USD 241 million (equivalent to approx. Rs 1133 Crores).