Shiv Vani Oil & Gas Exploration Services Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 18, 2008 inter alia, have accorded the following:

1. Authority to the Board to offer, issue and allot in one or more tranches, 60,00,000 (Sixty lacs) Warrants with an option to subscribe up to 60,00,000 (Sixty lacs) Equity Shares of Rs 10/- each at a premium of Rs 650/- per share of the Company to Promoter(s), Director(s), their relatives and the companies promoted by the Promoter Director(s) or Associate(s) or Person(s) Acting in Concert hereinafter referred as the ?Promoter Group? viz.

1. Investor?s Name: Anil Ads & Exports Pvt Ltd
No of Warrants: 5,00,000

2. Investor?s Name: Jet Age Couriers Pvt Ltd
No of Warrants: 5,00,000

3. Investor?s Name: Kamakhya Infrastructure Pvt Ltd
No of Warrants: 5,00,000

4. Investor?s Name: Pack-tech Systems Pvt Ltd
No of Warrants: 5,00,000

5. Investor?s Name: Merlin Snacks Pvt Ltd
No of Warrants: 5,00,000

6. Investor?s Name: Gyandeep Commercial Services Pvt Ltd
No of Warrants: 5,00,000

7. Investor?s Name: Pacific Oil Field Services Ltd
No of Warrants: 30,00,000

whether such persons are members of the Company or not, in such manner as may be acceptable to the Company, at a price (in the case of warrants or convertible instruments, at an exercise price) which is not lower than the minimum price determined in accordance with the Chapter XIII of in SEBI Guidelines provided that the aggregate amount to be raised by the issue and allotment of the Securities (in the event of warrants, upon conversion of the warrants into equity shares) not to exceed Rs 396 crores, on such further terms and conditions, as may be finalised by the Board of Directors.

2. Re-appointment of Shri. Prem Singhee as Chairman & Managing Director of the Company w.e.f. November 01, 2007 for a period of five years, on remuneration, terms & conditions.

3. Revision of remuneration paid to Shri. Padam Singhee, Joint Managing Director of the Company w.e.f. November 01, 2007 to May 31, 2011, on terms & conditions.

4. Appointment of Mr. Prakash Singhee, a relative (brother) of Mr. Prem Singhee, Chairman & Managing Director and Mr. Padam Singhee, Joint Managing Director of the Company, to hold an office for profit under the company as the President of the Company with effect from the date (after getting approval of the Central Government) for a period of five years, on remuneration, terms & conditions.