Cambay Basin Blocks

We are currently a participant in four exploration blocks within the Cambay Basin.

Two blocks entered into in March 2004, grant exploration rights in areas onshore western India in the Cambay Basin in the State of Gujarat. We refer to the CB-ONN-2002/2 exploration block as the "Mehsana Block" and the CB-ONN-2002/3 exploration block as the "Sanand/Miroli Block and we have a 10% participating interest under each of these agreements.

In April 2005, we purchased a 20% participating interest in an exploration block from Gujarat State Petroleum Corporation Limited originally granted in November 2000. This block grants exploration rights in an area onshore western India in the Cambay Basin in the State of Gujarat. We refer to this CB-ON/2 exploration block as the "Tarapur Block" and have a 20% participating interest under this agreement.

One block entered into in September 2005, grants exploration rights in an area onshore western India in the Cambay Basin located in the State of Gujarat south-east of our other three existing Cambay blocks. We refer to this CB-ONN-2003/2 exploration block as the "Ankleshwar Block" and have a 10% participating interest under this agreement.