Asian Energy Executes Revenue Sharing Contract for DSF-IV Block

Key Event Details

Oilmax Energy Private Limited (OEPL), the holding and amalgamating company of Asian Energy Services Limited, executed a Revenue Sharing Contract (RSC) with the Government of India (acting through the President of India) on October 22, 2026. The contract is for Contract Area GK/OSDSF/GKOSN/2025 under the Discovered Small Field (DSF) Bid Round-IV.

Background and Award Details

The Contract Area was awarded to OEPL by the Directorate General of Hydrocarbons (DGH), Ministry of Petroleum and Natural Gas, Government of India, vide Letter of Award bearing reference no. DGH/DSF IV/LOA/2026/08/276 dated August 31, 2026. This award was previously disclosed to the exchanges via intimation dated September 1, 2026.

Operational Interest

OEPL holds a 50% participating interest in the Contract Area and acts as the Operator. The signing of the RSC represents a further milestone following the award of the Block. The rights and obligations relating to the Contract Area shall be governed by the terms and conditions of the executed RSC.

Merger Context and Future Transfer

The Hon'ble National Company Law Tribunal, Mumbai Bench-I, sanctioned the Scheme of Merger by Absorption of OEPL with Asian Energy Services Limited vide its order dated September 29, 2026. Subject to receipt of requisite statutory and contractual approvals or consents and the Scheme becoming effective, the rights and interests of OEPL in the Contract Area would vest in Asian Energy Services Limited in accordance with the terms of the Scheme and applicable law.

Financial Impact

Financial impact not quantified in the disclosure.

Future Communications

The company will keep the stock exchanges informed of material developments in accordance with the Listing Regulations.