Gulf Oil and Gas accountACCOUNT

Hindustan Oil Commences Production from Py-1 Field

Source: www.gulfoilandgas.com 10/16/2009, Location: Asia

The Company has informed the Stock Exchanges as follows: “In compliance with the applicable provisions, if any, of the Listing Agreement entered into with the stock exchanges, we are pleased to inform you that the Company has commenced the production of natural gas from PY-1 Field.

As notified earlier, the natural gas from this Field shall be supplied to GAIL (India) Limited. Pursuant to the Production Sharing Contract for PY-1 Field, Chennai Petroleum Corporation Ltd. (CPCL), is designated as the Government nominee for purchasing the condensate.

The Company has 100% operated participating interest in the said field.”

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