HOEC Exploration Returns Negative Results on North Ledo-1

A statement prepared by a Hindustan Oil Exploration Company representative read, "The Company, as the Operator of AAP-ON-94/1 Block, has drilled the exploration well North Ledo -1 in the Block, to the depth of 2024 meters. The Modular Dynamics Test (MDT) and pressure gradient analysis carried out has not shown positive results.

"The Joint Venture has decided to Plug and Abandon (P&A) the said well. After the P&A operation, the rig shall move to the next location for the drilling of exploration well (Dirok-1) in AAP-ON-94/1 Block.

The Company has a 40.323% participating interest in the said Block."

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