Outcome of EGM
Vadodara, India, 4th August 2007

Asian Oilfield Services Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on August 04, 2007, inter alia, have accorded to the Board to issue, offer and allot upto 43,22,900 Convertible Warrants (Warrants), to be convertible at the option of Warrant holder in one or more trenches, within 18 months from its allotment date into 1 fully paid up Equity Share of the Company of face value of Rs 10/- each for cash at an exercise price of Rs 76/- (including premium of Rs 66/-) and to issue fresh Equity Shares on the conversion of the warrants, on such further terms and conditions as may be finalized by the Board of Directors.