On OVL Day message from MD, OVL 05 March, 2011 Dear colleagues, On February 28, 2011, I was entrusted with the additional charge of Managing Director of our company by the Government of India. I succeed Mr.R.S.Butola to this position on his selection as the Chairman& Managing Director of Indian Oil Corporation. On behalf of the OVL fraternity I would like to place on record the invaluable contribution of Mr.Butola during his tenure in OVL first as Director (Finance) and subsequently from 2004 till 28th February, 2011 as the CEO of OVL, in the stupendous growth of OVL, where we are today the No.2 E&P Company of India. I wish him all the best in achieving greater heights in his new role as the CEO of one of the most valuable companies in India. In 2001, OVL received a great impetus to growth and expansion under the leadership of the then C&MD, late Shri. Subir Raha, evolving at an outstanding pace into India's biggest MNC with a cumulative investment of more than USD 12 billion. From a single project in a single country, OVL has since expanded to 34 projects in 15 countries today, with several overseas subsidiaries and joint ventures. With its production hovering around 9 MMt per annum, OVL has become the second largest E&P Company of India in terms of reserves and production, next only to parent ONGC. I have been fortunate to be a part of this incredible journey along with many others in growing our portfolio of assets to its current position today. It has been an incredible journey with its share of excitements, disappointments and a great experience in learning for the OVL team in the very exciting world of M&A. During the course of my career of over three and a half decades, I have had the privilege of my seniors' guidance and my colleagues' support, and I fully understand the significance of both to organizational growth as well as individual success. My vision for OVL is to continue the excellent work we have done so far and to make it a truly world-class E&P company, and move towards fulfilling our mission of contributing 60 MMTPA of equity oil and gas towards India's energy security. Nearer term we have to strive to achieve the target of 20 MMt O+OEG by 2020. Whenever an organisation grows exponentially, there is a need to ensure that its systems and sub-systems are strengthened routinely and continuously. These strengthened systems will act as basic building blocks for further expansion. OVL is in a phase of consolidation so that the next phase of expansion can be sustained on this platform. An organisation oriented approach rather than an assignment or project oriented approach will be our focus. OVL can achieve its mission only through the full commitment of all our stakeholders, and I look forward to your continued support, suggestions and innovations at every step of the way. I am always available and willing to listen to all points of view that can yield improvements, big and small, to our systems and processes, and am a firm believer that each and every individual in the organizational value chain can, and should, contribute to our growth story. I thus request, and encourage, you to put in your best efforts, and assure you of my unstinting support at all times. I wish you and your family all the best on the glorious occasion of OVL Day. Joeman Thomas Managing Director