1 Previous year''s figures have been regrouped / recast wherever
 necessary to conform to current year''s presentation.
 
 2 Contingent liabilities                       (Amt in Rs.)
 
                                      March 31, 2011 March 31, 2010
 
 Outstanding balance on bank guarantees 14,30,32,923   11,66,10,843
 
 Open letter of credit(LCs) given by 
 the bank on behalf of the Company                 -    3,03,19,011
 
 Demand for Income Tax contested 
 by the Company                          1,48,71,198       8,10,922
 
 4 Information in respect of related parties
 
 During the year, the Company entered into transactions with the related
 parties. List of related parties alongwith nature and volume of
 transactions and balances at 31st March, 2011 are presented below:
 
 (a) Subsidiary AOSL Petroleum Pte Ltd
 
 (b) Key Management Personnel Mr. Avinash Manchanda - Managing Director
 
 Mr. Miten Manchanda - General Manager [ Seismic Support Services ]
 
 (c) Relatives of Key Management Personnel Mr. Miten Manchanda - Son of
 Mr. Avinash Manchanda
 
 (d) Associates Nimit Finance Private Limited
 
 5 The Company has not received any intimation from the suppliers
 regarding their status under the Micro Small and Medium Enterprises
 Act, 2006 and hence disclosure, if any, relating to amounts unpaid as
 at the year end together with interest paid / payable as required under
 the said Act, have not been given.
 
 6 The Company has only one reportable primary segment of providing
 oilfield related services and hence no separate segment disclosure
 made.
 
 7 As a matter of prudence, Company has made provision of
 Rs.6,98,07,577/- towards doubtful recovery of inter-corporate loan.
 
 8 The ESOS compensation committee of the company at their meeting held
 on 7th December 2010 has granted 5,77,683 stock options to the eligible
 employees (38),under the Employee Stock Option Scheme-2010 (ESOS-2010)
 at the exercise price of Rs.55.70 per option, being the latest
 available price on the stock exchange prior to the date of grant.The
 vesting of the options granted would be graded over a period of four
 years i.e on 15th December 2011, 1st October 2012,1st October 2013 and
 1st October 2014, with the exercise period being 2 years from the date
 of vesting.The Company has applied the intrinsic value method for
 accounting of such options.
 
 9 The Company has a net investment of Rs. 80.67 lacs by way of an
 advance given, in its wholly owned subsidiary AOSL Petroleum Pte Ltd.
 as of the year end. AOSL Petroleum Pte Ltd.''s net worth is negative
 however the management considers this entity to be of long term
 strategic importance in its potential global business plans and hence
 no provision has been made in the accounts for any possible losses,
 which may arise on this account.