HOEC Q1 FY27 Earnings Call Presentation

B80 Block (100% PI):

Q1FY27 Production: 270 barrels oil, 1.82 Mmscf gas (605 BOEPD)
Q4FY26 Production: 377 barrels oil, 2.8 Mmscf gas
Reserves (July 1, 2026): 35.48 MMBOE
HPCL crude offtake issue resolution: Invoice of ~417,000 barrels crude oil supplied in Aug 2025 canceled, oil being resold to third parties with completion expected by end October/early November 2026
Drilling plan: Workover of 2 existing subsea wells targeted in Q3FY27, drilling of 3 new wells in Q4FY27
Estimated FY27 capex: USD 45 million
Production enhancement initiatives completed including compressor modification, reduced diesel consumption, and created 4-5 days storage on MOPU

B15 Block (100% PI):

Dirok Block (27% PI):

Q1FY27 Production: 15.424 MMSCFD gas, 280.32 barrels condensate
Q4FY26 Production: 13.43 MMSCFD gas, 251.00 barrels condensate
Reserves (July 1, 2026): 226.04 BCF / 6.403 BCM
Production constrained to approximately 1/3rd capacity due to evacuation infrastructure limitations
Revised FDP approved by MoPNG, securing block till 2035
PSC extension under final review with DGH/MoPNG, expected signing by August/September 2026
Exploration well North Dirok-1 spudding targeted in Q4FY27

Kharsang Block (35% PI):

Q1FY27 Production: 655 barrels oil, 0.16 Mmscf gas
Q4FY26 Production: 676.68 barrels oil, 0.59 Mmscf gas
Remaining reserves: 3.21 MMbbl
Workover carried out on 4 wells after 9-well campaign in FY2025-26
Production ramped from 325 BOPD to 726 BOPD
Plan to drill additional 9 development wells (4 firm + 5 to mature) in FY27
Gas evacuation plan under discussion as recently drilled wells show good gas potential (3.4-8.6 MMSCFD)

AA-ONN-2005/1 Block (100% PI):

CB-ONN-2003/1 (10% PI):

IOCL operator, HOEC supporting subsurface and drilling operations
First development well UTR-IOCL-1-ST drilled to 4,500m MD, suspended pending activation
Second development well completed to 4,400m MD, drill string stuck during wireline logging

Asjol (50% PI):

North Balol (25% PI):

Q1FY27 Production: 66 BOEPD
Reserves (July 1, 2026): 0.21 MMboe
Installed Crude Oil Lifting Technology (COLT) BELT Technology in NB-11 for pilot project

Palej (35% PI):

Production: 70 BOEPD
Reserves (July 1, 2026): 0.04 MMboe
Full production assessment shows ~600 bopd potential by FY27-28
Sucker Rod Pumps implementation planned to increase per-well output from 20-30 bopd to ~200 bopd
Thermic Fluid Heater installation increased production by 20%

PY-3 (100% PI):

Q1FY27 Production: 61 BOEPD
Reserves (July 1, 2026): 10.38 MMBOE
Engaged SLB for rigless well intervention job targeting mid-October completion
Order placed for Booster Compressor to increase sales, target installation October 2026
Drilling preparation for 2 wells, expected commencement by Q4FY27/Q1FY28

PY-1 (21% PI):

| Particulars | Q1FY27 | Q4FY26 | Q1FY26 | FY26 |

| Revenue from operations | 124.01 | (190.57) | 85.50 | 301.29 |

| Profit petroleum/Revenue Sharing to GOI | (9.83) | (15.32) | (6.85) | (38.13) |

| Other income | 20.16 | 6.70 | 2.85 | 15.69 |

| Total Income | 134.34 | (199.18) | 81.51 | 278.84 |

| Total expenses | 127.78 | -208.19 | 69.28 | 246.79 |

| Profit before tax | 6.56 | 9.01 | 44.74 | 64.57 |

| Net profit | 6.24 | 7.78 | 43.87 | 62.75 |

| EPS - Basic (₹) | 0.47 | 0.59 | 3.32 | 4.74 |

| Particulars | Q1FY27 | Q4FY26 | Q1FY26 | FY26 |

| Revenue from operations | 117.45 | (194.28) | 83.48 | 288.03 |

| Profit petroleum/Revenue Sharing to GOI | (9.83) | (15.32) | (6.88) | (38.16) |

| Other income | 19.37 | 6.29 | 5.37 | 24.76 |

| Total Income | 126.99 | (203.31) | 81.97 | 274.62 |

| Total expenses | 114.45 | (233.71) | 66.28 | 152.51 |

| Profit before tax | 12.54 | 30.40 | 48.21 | 109.61 |

| Net profit | 12.54 | 30.40 | 48.21 | 109.61 |

| EPS - Basic (₹) | 0.95 | 2.30 | 3.65 | 8.29 |