History of Deep Industries Ltd.

The Comp. was incorporated in the year 1991. We provide Air and Gas Compression Services to Oil and Gas Exploration Companies. We currently compete primarily in the market for transportable natural gas compression units of upto 2400 HP. We also provide transportation services for transport of liquid. However, we have gradually moved from a liquid transport service provider to compression service providers. The current primary activity of our Comp. includes providing Compression services to our clients.

HISTORY AND MAJOR EVENTS

The Key events in the business of our Comp. are as follows:

Year Milestone Achieved

1991 Commenced activities of providing liquid transportation services 1994 Strategic shift from providing Crude Oil/Liquid transport services to providing Air/Gas Compression Services 1994 Bagged contract to provide High Pressure Air Compressors on charter hire basis to ONGC, for its Ahmedabad project 1997 Bagged contract to provide Natural Gas Compressors on charter hire basis to ONGC, for its Mehsana project 1998 Bagged contract to provide Natural Gas Engine based power generation packages on charter hire basis. 2001 Entered into Gas Compression Equipment Lease & Service Agreement with Hanover Asia Inc., USA for taking on lease Gas Compressors. 2004 Entered into Sales Representation Agreement with Valerus Compression Services Limited Partnership, USA to act as Sales Representatives in the Asian Region. 2005 Purchased one 100 Ton Cardwell KB 500 S Axle Mobile Rig as a step towards becoming an integrated service provider to the Oil and Gas Sector. 2005 Awarded ISO 9001 - 2000 certification. 2005 Awarded as a contractor member in good standing by International Association of Drilling Contractors [IADCs] 2006 Entered in to Memorandum of Understanding with PT Indrillco Bakti, Jakarta, Indonesia for availing technical know-how/collaboration in connection with work over services for 30 to 200 Ton capacity Rigs.

2008

-Deep Industries Ltd has been awarded the contract from Chennai Petroleum Corporation Ltd for compression of natural gas at Kamalapuram for Five years. The value of contract is Rs 103 Million.