M/s. Asian Oilfield Services Ltd. was incorporated as public limited
 Company & obtained the Certificate of Incorporation as a public
 limited company on 9th March, 1992 from the Registrar of Companies,
 Gujarat at Ahmedabad. The certificate for Commencement of Business
 was obtained
 on 10th March, 1992. The company was formed by an association of
 professionals working in different fields to give integrated services
 in the areas of exploration & drilling of Oil/Gas to O.N.G.C., O.I.L.
 and such other private Companies.
 
 The company is, at present, engaged in carrying out manual &
 mechanised Short Hole Drilling activities on behalf of ONGC & private
 Companies. The company proposes to expand its activities in workover
 rig services by purchasing 2 Nos. 30 Tons capacity and 1 no 50 Tons
 Workover Rigs at a total cost of Rs.416.50 lacs from USA. The cost of
 the project
 has been estimated at Rs.658 lacs which is proposed to be financed,
 interalia, by public issue, as well as Foreign Currency Loan/DPG of
 Rs.150.00 lacs.
 
 2007
 
 -Asian Oilfield Services Ltd has appointed Mr. Vikram Walia as an
 Additional Director on the Board of Directors of the Company w.e.f.
 October 12, 2007.
 
 2008
 
 -Asian Oilfield Services Ltd has informed that Mr. Sumeet Narang has
 been appointed as a Nominee Director of Investor Company, M/s. Samara
 Capital Partners Fund I Ltd., on the Board of Directors of the Company
 w.e.f. January 30, 2008, in accordance with the Investment Agreement
 signed by the Company with M/s. Samara Capital Partners Fund I Ltd.