1 8,46,53,068 (8,46,53,068) Shares out of the issued, subscribed and paid up share capital were allotted as equivalent to Global Depository Receipts (GDR) since inception

2 Reconciliation of number of shares outstanding at the beginning and at the end of the reporting period, is as under:

2.3 The Company has only one class of shares referred to as equity shares having par value of Rs, 1 each. Each holder of equity share is entitled to one vote per share except GDR Holders / Depository. The holders of equity shares are entitled to dividends, if any, proposed by the Board of Directors and approved by Shareholders at the Annual General Meeting except in case of Interim Dividend. In the event of liquidation of the Company the holders will be entitled to receive remaining assets of the Company, after distribution of all preferential distribution in proportion to the number of Equity Shares held by the shareholders.

3 Segment Reporting

In accordance with AS-17 "Segment Reporting", segment information has been given in consolidated financial statements of the Company, and therefore, no separate disclosure on segment information is given in these financial statements.

4 MSME Disclosures

Based on the information received by the Company from Vendors regarding their status under the Micro, Small & Medium Enterprises Development Act, 2006 (The Act) there are no amounts due to such vendors during the year and as at the year end. Therefore, disclosures required under the Act have not been given.

5 Related Party Disclosures

A) Related Parties and their relationship i) Subsidiary (Direct Holding) ii) Subsidiary (Indirect Holding)

British Oil & Gas Exploration Pvt Ltd, British Oil Resources Ltd, Mauritius

Mauritius. British Oil & Gas Exploration Ltd, BVI *

Sterling Oil Resources Ltd, BVI * Geodynamics-Geospectra Ltd, BVI *

* Subsidiaries of British Oil Resources Ltd

iii) Enterprise in which significant influence is exercised

a) Sterling Exploration and Energy Production Company Limited, BVI

b) Sterling Oil Exploration and Energy Production Co. Ltd, Nigeria