Formerly known as Selan Exploration Technology Limited Formerly known as Selan Exploration Technology Limited Formerly known as Selan Exploration Technology Limited Formerly known as Selan Exploration Technology Limited Formerly known as Selan Exploration Technology Limited Formerly known as Selan Exploration Technology Limited

Announcements

The Board of Directors meeting for discussion of Buyback of Shares was held on 03 June 2017. With share price trading at sharp discount to intrinsic value, a Buyback of Shares offers an attractive opportunity for the Company. For shareholders as well, who elect to participate, there is an attractive exit opportunity which provides the desired liquidity. And for shareholders who do not participate, there is an equally attractive opportunity of increasing their economic interest in the Company by continuing to retain their shareholding. However, there are at least three major recent macro-economic events which makes your Board believe that it would be in the best interests of the Company and its shareholders to defer the decision on Buyback of Shares at the present time. Firstly, as stated in our letter to Stock Exchanges dated 25 May 2017, there are uncertainties surrounding the upcoming GST law, the impact of which shall need to be assessed, to determine the extent of impact this law will have, if any, on our business and capital allocation decisions. Secondly, there is the recent OPEC plus others decision to extend production cuts through the fiscal year 2018. This decision has an encouraging impact on the industry outlook in the medium term, which in turn influences our capital allocation plans. Thirdly, there is major progress on China’s “One Belt One Road” initiative, which is supportive of global demand for commodities. Finally, at a Company specific level, we believe that a more robust and positive assessment on outcomes of our past capital allocation decisions on the Company’s production, growth and profitability, will be possible over the coming months. As a consequence, a decision on Buyback of Shares has been deferred to a later date. The Company shall inform the Stock Exchanges and shareholders as and when a decision is taken in this regard.

In order to carefully evaluate the financial implications, if any, on the Company of recent GST Announcements, the Board Meeting scheduled for 26 May 2017 is hereby postponed to 03 June 2017. Accordingly, as per SEBI (Prohibition of Insider Trading) Regulations 2015, the Trading Window of the Company will remain closed till 05 June 2017.

A meeting of the Board of the Directors of the Company is being convened on Friday, 26 May 2017 to consider the proposal for Buyback of Equity Shares. Further in terms of SEBI (Prohibition of Insider Trading) Regulations 2015, the Trading Window of the Company will remain closed from 22 May 2017 to 28 May 2017 (both days inclusive) in connection with the ensuing Board Meeting.

A meeting of the Board of Directors of the Company is being convened on Saturday, 20 May 2017 to consider and adopt, inter-alia, the Audited Financial Results of the Company for the year ended 31 March 2017. Further in terms of SEBI (Prohibition of Insider Trading) Regulations 2015, the Trading Window of the Company will remain closed from 13 May 2017 to 22 May 2017 (both days inclusive) in connection with the ensuing Board Meeting.

The Board of Directors is pleased to announce that it has engaged the services of Mr. Deepak Agrawal as Executive Technical Advisor to the Board of Directors. This is a significant step towards our commitment to grow production and deliver value to our shareholders. Mr. Agrawal was most recently Director Technical and Executive Committee Member at Cairn India Limited. Prior to Cairn, he was Vice President of Projects at British Petroleum in Mumbai. Before moving back to India in 2012, Mr. Agrawal worked for Chevron in executive management capacities worldwide for 20 years, his last assignment being as Development Manager of Chevron’s multi-billion dollar LNG Project Gorgon, in Western Australia. Mr. Agrawal holds a Masters degree in Engineering from the University of California at Berkeley where he was a Jane Lewis Fellow. His undergraduate degree is in Petroleum Engineering from IIT (Indian School of Mines) Dhanbad. Mr. Agrawal has worked extensively in reservoir description and management, asset development, project planning and execution as well as in commercial areas of asset value assessment and optimization. Mr. Agrawal will report to the Board and guide our technical teams in their pursuit of world class management of our assets with commitment to deliver asset integrity and sustainable growth. The Board will benefit from his advice based on the diversified worldwide experience of quality asset management and profitable growth that he brings to the Company. This is a non-exclusive contract which doesn’t prevent Mr. Agrawal from taking other assignments while he advises Selan.

The Board of Directors of the Company, in their meeting held today, have declared an Interim Dividend of 50% (i.e. Rs. 5.00 /- per equity share) for the Financial Year 2016-17. The Record Date for the purpose of Interim Dividend has been fixed as Saturday, 18 February 2017. Further, it is hereby informed that the said dividend shall be paid / dispatched within 30 days of declaration of Interim Dividend.

A meeting of the Board of Directors of the Company is being convened on Saturday, 11 February 2017 to consider and adopt, inter-alia, the Unaudited Financial Results of the Company for the quarter ended 31 December 2016 and Interim Dividend for the financial year 2016-17 on Equity Shares of the Company. The Record Date for the purpose of Interim Dividend, if declared will be Saturday, 18 February 2017.

The Board of Directors are pleased to announce the appointment of Mr. Neeraj Sethi as the President and CEO of Selan. Mr. Sethi brings 21 years of international oilfield and strategic management experience to Selan. He has a proven track record of starting, growing and managing the business of a leading international oil services company, Baker Hughes in multiple countries including India. During his career, he has also managed the business of a publicly listed oilfield service company in India as the COO of Asian Oilfield Limited. In his most recent assignment, he oversaw the application of leading edge technical solutions at Saudi Aramco on behalf of another International Service provider, Halliburton. He has lived and worked in eight different countries in the Asia-Pacific and Middle East region, has four SPE publications to his name and holds four US patents. Mr. Sethi will be responsible for the management and development of Selan’s current oil and gas assets, as well as evaluation and development of additional prospects in India and internationally while providing strategic leadership for the growth of the company. We are pleased to welcome Mr. Sethi to Selan and expect him to exploit the significant opportunities present in the company’s asset base as well as the wider hydrocarbon sector, and in the process drive significant enhancement in shareholder value.

The Company is pleased to announce the appointment of Ms. Sonali Bhagwati Dalal as a Director of the Company. Ms. Bhagwati Dalal has studied Architecture and Design, and has nearly 30 years of domestic and international experience, having earned the prestigious L’ Institute Francaise D’ Architecture scholarship to study and work in France. Ms. Bhagwati Dalal is also actively involved with various NGOs and social organizations aimed at improving the overall quality of life of the citizens of our Country.

A meeting of the Board of Directors of the Company is being convened on Saturday, 12 November 2016 to consider and adopt, inter-alia, the Unaudited Financial Results of the Company for the quarter ended 30 September 2016.

Annual General Meeting Voting Results – 2016

Mrs. Rohini Kapur (DIN: 00530757) who was appointed as a Director in the last Annual General Meeting ceases to be a Director at the Annual General Meeting of the Company held on 28 September2016. She retires by rotation at this Annual General Meeting as she did not offer herself for re-appointment and ceases to be a Director w.e.f. 28 September 2016. The Company wishes to place on record and acknowledge the valuable services rendered by her.

The Thirty first Annual General Meeting of Shareholders of the Company convened today, 28 September 2016 at Ashok Country Resort, Rajokri Road, Kapashera, New Delhi – 110037.

Mr. S. K. Singh, a Director of the Company, will be retiring from the Board of Directors effective 24.09.2016 after nearly 13 years with the Company. During this period, Mr. Singh has provided invaluable leadership and advice to the Company, and has been a source of great inspiration for the Company’s staff in Ahmedabad and Delhi. Our Best Wishes are with Mr. and Mrs. Singh and their family, for the years ahead.

The Annual General Meeting of the Company is scheduled to be held on Wednesday, 28 September 2016 at Ashok Country Resort, Rajokri Road, Kapashera, New Delhi- 110037. The Company has fixed cut- off date of 21 September 2016. The remote e- voting period commences on 25 September 2016 (9:00 am) and ends on 27 September 2016 (5:00 pm). The Register of Members and Share Transfer Books of the Company will remain closed from Wednesday, 21 September 2016 to Wednesday, 28 September 2016 (both days inclusive) in connection with the ensuing Annual General Meeting.