SELAN EXPLORATION TECHNOLOGY LIMITED

SELAN at a Glance Produced over 1 million barrels of Crude oil to date. Produced over 1 million barrels of Crude oil to date. Invested over Rs. 1 Billion for Appraisal of the oil and gas fields and for Development of additional infrastructure. Invested over Rs. 1 Billion for Appraisal of the oil and gas fields and for Development of additional infrastructure. Will invest another Rs. 500 – 1000 Million on Appraisal of the Fields in the next 1-2 years through Promoter Funding, Internal Accruals and Debt. Will invest another Rs. 500 – 1000 Million on Appraisal of the Fields in the next 1-2 years through Promoter Funding, Internal Accruals and Debt. Paid-up Capital of only Rs. 140 Million (USD 3 million) Paid-up Capital of only Rs. 140 Million (USD 3 million)

NORTH CAMBAY BASIN LOHAR KARJISAN BAKROL OGNAJ INDRORA SELAN OIL & GAS FIELDS INDRORA BAKROL OGNAJ LOHAR KARJISAN SELAN OIL & GAS FIELDS

FINANCIAL HIGHLIGHTS EBIDTA margin in excess of 70% of sales EBIDTA margin in excess of 70% of sales DE Ratio of 0.26 DE Ratio of 0.26 DSCR of 6.23 DSCR of 6.23 Crisil rating of ‘A’ Crisil rating of ‘A’ Cash & Bank balances of Rs. 500 million. Cash & Bank balances of Rs. 500 million. Unutilized Lines of Credit lying with SBI and YES Bank of Rs. 400 million. Unutilized Lines of Credit lying with SBI and YES Bank of Rs. 400 million.

FINANCIAL HIGHLIGHTS Rs. (Mills.) H Sales EBIDTA EBIDTA Margin 81%74%79%83% Cash and Bank Balances Debt Produced Volume (bbls/000s) Sales Price (USD/bbl)

Production Sharing Contract Highlights 100% Participating Interest 100% Participating Interest in all fields; no partners. Receive International Price for Crude Oil Receive International Price for Crude Oil (± 3 - 5% discount to Brent) (± 3 - 5% discount to Brent) Free pricing of ANG Free pricing of ANG Royalty and Cess fixed in Rs. 190 / bbl Royalty and Cess fixed in Rs. 190 / bbl ( approximately USD 4/bbl ) ANG Royalty 10% of Sales. ANG Royalty 10% of Sales. Production Sharing with GoI after Investment Multiple exceeds 3.5x on a PAT basis Production Sharing with GoI after Investment Multiple exceeds 3.5x on a PAT basis

SELAN Acreage Discovered vs. Exploration Acreage Discovered vs. Exploration Acreage Selan has 200 sq. kms. of Discovered Oil and Gas Acreage in 5 fields Selan has 200 sq. kms. of Discovered Oil and Gas Acreage in 5 fields All fields are located in ‘Onshore’ Gujarat All fields are located in ‘Onshore’ Gujarat

Plans BAKROL – Production from 2010 (36 Sq kms) INDRORA – Production from 2011 (130 sq kms) OTHER FIELDS – Production from 2012 (27 sq kms)

Plans BAKROL – Production from 2010 (36 Sq kms) Complete 3D/ 4D Seismic Work (1H 2010) Complete 3D/ 4D Seismic Work (1H 2010) Establish 2P Reserves (1H 2010) Establish 2P Reserves (1H 2010) Begin Drilling with DGH approval (2H 2010) Begin Drilling with DGH approval (2H 2010) Likely / External Funding needed (USD 25 – 40 million) Likely / External Funding needed (USD 25 – 40 million) Search for Strategic Partner or Sub Contract Search for Strategic Partner or Sub Contract Field Development work to Schlumberger etc : Appraise and develop “Contingent Resources” and “Possible” Reserves in lower pay horizons … for which significant funds would need to be raised externally : Appraise and develop “Contingent Resources” and “Possible” Reserves in lower pay horizons … for which significant funds would need to be raised externally.

Plans INDRORA – Production from 2011 (130 sq kms) Complete 3D/ 4D Seismic Work (1H 2010) Complete 3D/ 4D Seismic Work (1H 2010) Establish 2P Reserves (2H 2010) Establish 2P Reserves (2H 2010) Begin Drilling of wells (1H 2011) Begin Drilling of wells (1H 2011) Search for Strategic Partner or Subcontract Search for Strategic Partner or Subcontract Field Development Work to Schlumberger, etc. Likely / External Funding required (USD 60 million +) Likely / External Funding required (USD 60 million +) (Will know after Seismic Work is completed if lower Pay Horizons exist)

Plans OTHER FIELDS – Production from 2012 (27 sq kms) Complete 3D Seismic Work (1H 2011) Complete 3D Seismic Work (1H 2011) Establish 2P Reserves (2H 2011) Establish 2P Reserves (2H 2011) Begin Drilling of wells (1H 2012) Begin Drilling of wells (1H 2012) External Funding requirement not known External Funding requirement not known

FUNDING OPTIONS for Field Development Raising equity Raising equity Raising debt / discounting receivables Raising debt / discounting receivables Strategic Partner Strategic Partner “Farming Out” stakes in each field separately at an appropriate time. “Farming Out” stakes in each field separately at an appropriate time.

ROHIT KAPUR Held senior management positions with American Cyanamid Inc., a Fortune 100 Company, including General Manager of one of its worldwide subsidiaries. A graduate of Columbia Collage (B.A.) and Columbia Business School (MBA), he has been actively involved with SELAN since its inception; Chairman of Board of Directors of SELAN. D.J. CORBISHLEY Dr. Corbishley began his career with Shell in 1971 and has spent the last 30 years with them in various countries, including most recently as Managing Director of Shell – India for five years. Dr. Corbishley has a Ph. D from the University of Durham; Corporate Advisor of SELAN. M.N. PRASAD Dr. Prasad has a Phd. in Petroleum Geology and an MBA from Canada and a wealth of Private Sector and Government Sector experience. Prior to joining SELAN, Dr. Prasad was CEO of Prize Petroleum Ltd., an Exploration Co. of HPCL, ICICI Bank, ICICI Ventures and HDFC Ltd. Dr. Prasad has also served as Head of Exploration at the Directorate General of Hydrocarbons and Joint Advisor to MoPNG for establishing the Directorate General of Hydrocarbons. Management and Key Personnel

FORBES ASIA SELAN rated as one of the 20 Best Managed Companies under USD 1 Billion in India. October, 2009 October, 2009

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