N M Rothschild & Sons India Pvt Ltd (”Manager to the Offer”) on behalf of Eni UK Holding Plc (”Acquirer”) Eni S.p.A, Burren Energy India Ltd & Burren Shakti Ltd (”Persons Acting in Concert”/ “PACs”) has issued this Public Announcement (”PA”) to the shareholders of Hindustan Oil Exploration Company Ltd (”Target Company”), Pursuant and in compliance with Regulations 10 & 12 and other applicable provisions of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ( “SEBI (SAST) Regulations” or “Regulations”).

The Offer

The Acquirer is making this Offer to acquire up to 26,115,455 fully paid up shares (”Offer Size”) of the Target Company representing in aggregate 20% of the Paid up equity share capital of the Target Company in terms of Regulation 21(1) of the SEBI (SAST) Regulations, at a price of Rs 144.2 per share (”Offer Price”) payable in cash.

Schedule of Activities:

Specified Date - April 24, 2008

Date of Opening of the Offer - June 11, 2008

Date of Closing of the Offer - June 30, 2008