Asian Oilfield Services

1.  Segment Reporting:
 
 The Institute of Chartered Accountants of India has issued on
 Accounting Standard 17 (AS-17) in regard to report on segment Revenue
 of the enterprise examining the provisions of AS-17. Company is engaged
 in the business of providing oilfield services.  Hence segment
 reporting is not required.
 
 2.  During the Current Year, the State Bank of India, Main branch,
 Baroda, has made additional sanction of the Term Loan against
 machineries and equipments for Rs. 15,70,00,000/- against which the
 Company has taken loan of Rs. 1,09,01,560/- against equipment and
 machineries purchased during the year.
 
 3.  Figures of the previous year have been regrouped/rearranged
 wherever necessary in order to confirm to this year presentation.