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History of Asian Oilfield Services Ltd.

M/s. Asian Oilfield Services limited was incorporated as public limited Comp. and obtained the Certificate of Incorporation as a public limited Comp. on 9th March, 1992 from the Registrar of Companies, Gujarat at Ahmedabad. The certificate for Commencement of Business was obtained on 10th March, 1992. The Comp. was formed by an association of professionals working in different fields to give integrated services in the areas of exploration and drilling of Oil/Gas to O.N.G.C., O.I.L. & such other private Companies.

The Comp. is, at present, engaged in carrying out manual and mechanised Short Hole Drilling activities on behalf of ONGC and private Companies. The Comp. proposes to expand its activities in workover rig services by purchasing 2 Nos. 30 Tons capacity & 1 no 50 Tons Workover Rigs at a total cost of Rs.416.50 lacs from USA. The cost of project has been estimated at Rs.658 lacs which is proposed to be financed, interalia, by public issue, as well as Foreign Currency Loan/DPG of Rs.150.00 lacs.

2007

-Asian Oilfield Services Ltd has appointed Mr. Vikram Walia as an Additional Director on the Board of Directors of Comp. w.e.f. October 12, 2007.

2008

-Asian Oilfield Services Ltd has informed that Mr. Sumeet Narang has been appointed as a Nominee Director of Investor Company, M/s. Samara Capital Partners Fund i Ltd., on the Board of Directors of Comp. w.e.f. January 30, 2008, in accordance with the Investment Agreement signed by Comp. with M/s. Samara Capital Partners Fund i Ltd.