Hindustan Oil Exploration Co., Ltd. · NSE:HINDOILEXP
Hindustan Oil Exploration — Q4 FY26 Earnings Presentation
46 slides from Hindustan Oil Exploration's earnings presentation, Jun 12, 2026
Slide 1: Hindustan Oil Exploration Company Limited - Exchange Covering Letter
Hindustan Oil Exploration Company Limited ‘Lakshmi Chambers’, 192, St. Mary’s Road, Alwarpet, Chennai - 600 018. INDIA. : 91 (044) 66229000 ● Fax: 91 (044) 66229011 / 66229012 E-mail: contact@hoec.com ● Website: www.hoec.com CIN: L11100GJ1996PLC029880 June 12, 2026 By Online The Listing Department T
Slide 2: Earnings Presentation Q4FY26
EARNINGS PRESENTATION Q4FY26 | May 2026
Slide 3: Disclaimer
Disclaimer No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the d
Slide 4: Agenda
AGENDA 01 HOEC – At a Glance 02 Asset-wise Updates `` 03 Aspirations 04 Financials 05 Glossary
Slide 5: HOEC – At a Glance
01 ` HOEC – At a Glance
Slide 6: HOEC at a Glance
HOEC at a Glance Performance Snapshot as of March 31, 2026 Corporate Structure Market Cap Revenue* EBITDA* PAT* Financial ₹301.3 Cr ₹124.5 Cr ₹62.8 Cr Highlights ₹2,219 Cr# 34.4% 50.0% 57.4% 100% 100% Hindage Oilfield Geopetrol Int’l Services Ltd Inc. Particulars March-26 Shareholding FIIs 1.49%
Slide 7: Asset portfolio across key resource-rich locations in India
Asset portfolio across key resource-rich locations in India Asjol North Balol Reserves (MMBOE) March-26 Cambay Palej 1P Reserves 40.58 Dirok Kharsang 2P Reserves 62.32 INDIA Umatara Assam Arakan Greater Dirok (Block-19) Production (BOEPD) FY 25-26 Gross Production 5,251 Net Production 2,329 Mumbai H
Slide 8: A strong & experienced leadership team in place
A strong & experienced leadership team in place… Mr. Allen Joseph Andrade* Mr. Krishnan Raghavan Mr. Rajesh Sinha Mr. Sanjay Kundu* Mr. Ravishanker Prasad Chief Financial Officer Chief Technical Officer – E&P Head of Drilling GM Operations - Offshore Head Operations – Kharsang Mr. Baroruchi Mishra M
Slide 9: Supported by a capable and effective board
…supported by a capable and effective board Mr. Suresh Kumar Jain Ms. Preeti Grover Dr. Jagadip Narayan Singh Mr. Pronip Kumar Borthakur Independent Director Independent Director Chairman & Non-Executive Independent Director Independent Director Mr. Ashok Kumar Goel Mr. Rohit Rajgopal Dhoot Mr. Baro
Slide 10: FY26 at a Glance | Key Business Updates 1/2
FY26 at a Glance | Key Business Updates 1/2 Mumbai High: • Awarded DSF Block: B15 • Successfully took over AEPL’s 40% stake of B80, taking our ownership to 100% North East: • Kharsang: Completion of 9 wells campaign in a single financial year | Oil production ramped up by 2x; higher gas potential th
Slide 11: FY26 at a Glance | Key Business Updates 2/2
FY26 at a Glance | Key Business Updates 2/2 Dispute with HPCL on Crude Sales • Sept 2026 | HPCL raised a dispute highlighting quality of crude oil sold; now on path of resolution • As sales revenue of ~INR 260 crore was held up due to the ongoing dispute, investments in our Other Updates well drilli
Slide 12: Asset-wise Updates
02 ` Asset-wise Updates
Slide 13: Offshore | B80
Offshore | B80 The Block at a Glance Basin • Mumbai High • On the west coast of India, at Location a distance of ~110 km from Mumbai City Participating Interest • 100% JV Partners (if any) • None FY26 Production • 1,103 BOEPD Reserves (Apr 1, 2026) • 35.53 MMBOE Regime • DSF Page 12
Slide 14: Offshore | B80 - Key Business Updates
Offshore | B80 - Key Business Updates 1. HPCL – HOEC Crude Offtake & Resolution Status Background ▪ In Aug 2025, HOEC supplied ~417,000 barrels of crude oil to HPCL. Following processing of the cargo, HPCL raised concerns regarding the presence of organic chlorides in the crude stream o The matter r
Slide 15: Offshore | B80 - Key Business Updates
Offshore | B80 - Key Business Updates Drilling Plan Overview ▪ Drilling Plan Updates: o Workover of two existing subsea wells targeted in Q3FY27, post which drilling As per FDP # of Wells Dug In Pipeline Exp. Timeline of 3 new wells will commence (Q4FY27) 5 wells 2 wells 3 wells Q3/Q4FY27 o Estimate
Slide 16: Offshore | B15
Offshore | B15 The Block at a Glance Key Business Updates • Technical studies for Field development plan Basin • Mumbai High (FDP) currently in progress • Obtained petroleum lease in March 2026 • On the west coast of India, at Location a distance of ~110 km from • Drilling expected to commence in FY
Slide 17: Offshore | PY1
Offshore | PY1 The Block at a Glance Basin • Cauvery • On the East coast of India, Location along the NE-SW Madanam Ridge in Cauvery Basin Participating Interest • 100% JV Partners (if any) • None FY26 Production • 62 BOEPD Reserves (Apr 1, 2026) • 10.38 MMBOE Regime • Pre-NELP Page 16
Slide 18: Offshore | PY1 - Key Business Updates
Offshore | PY1 - Key Business Updates ▪ Only Offshore Production platform in Cauvery Offshore ▪ Unique, gas-bearing offshore fractured granitic basement reservoir Drilling Plan Overview in India As per FDP # of Wells Dug In Pipeline Exp. Timeline 4 wells 2 wells 2 wells Q4FY27 ▪ Production Sharing C
Slide 19: Offshore | PY3
Offshore | PY3 The Block at a Glance Key Business Updates Basin • Cauvery • On the East coast of India, Location along the Tranquebar depression in Cauvery Basin Participating Interest • 21% • Currently in arbitration • ONGC (40%), TATA Petrodyne JV Partners (if any) (21%), Hardy Exploration and Pro
Slide 20: Onshore | Dirok
Onshore | Dirok The Block at a Glance Photographs Basin • Assam-Arakan • Margherita in North East Location India, along the Schuppen Belt of Upper Assam Participating Interest • 27% Photographs • Oil India Limited (44%), JV Partners (if any) Indian Oil Corporation (29%) Production • 14.12 MMSCFD / 0
Slide 21: Dirok - Key Business Updates
Offshore | Dirok - Key Business Updates ▪ Current production constrained by availability of gas evacuation infrastructure. Discussion with Industry stakeholders from Upstream, Drilling Plan Overview Midstream and Downstream for evacuation of Dirok gas is ongoing. As per FDP # of Wells Dug In Pipelin
Slide 22: Onshore | Dirok - DNPL Pipeline Progress Map
Onshore | Dirok - DNPL Pipeline Progress Map Page 21
Slide 23: Onshore | Kharsang
Onshore | Kharsang The Block at a Glance Photographs Basin • Assam-Arakan • Changlang district, Arunachal Location Pradesh, North East India, Participating Interest • 35% Photographs • Oil India (40%), JEKL Pvt Ltd JV Partners (if any) (25%) ( b ) Production • 700 BOEPD Photographs Remaining Reserve
Slide 24: Onshore | Kharsang - Key Business Updates
Onshore | Kharsang - Key Business Updates Drilling Plan Overview As per FDP # of Wells Dug In Pipeline Exp. Timeline 43 wells Phase 1 Phase 2 FY27 • Drilled 9 Development wells during the financial year 2025-26; 6 oil 9 wells 9 wells wells and 3 gas wells • Gross Production raised from 325 BOPD to 7
Slide 25: Onshore | BLOCK-19
Onshore | BLOCK-19 Exploratory well The Block at a Glance Photographs Basin • Assam-Arakan • Ledo in North East India, Location along the Schuppen Belt of Upper Assam Depth Structure Map Participating Interest • 100% Photographs JV Partners (if any) • None Exploratory well Production • Yet to be sta
Slide 26: Onshore | Block-19 - Key Business Updates
Onshore | Block-19 - Key Business Updates Drilling Plan Overview As per FDP # of Wells Dug In Pipeline Exp. Timeline 2 wells Nil 2 wells FY27-28 Key Business Updates • Paid extension for Initial Exploration Phase (IEP) has been obtained | Validity until Dec 2027. • Petroleum Exploration License (PEL
Slide 27: Onshore | Umatara
Onshore | Umatara The Block at a Glance Photographs Basin • Assam-Arakan • Rajgarh, Dibrugarh in North SRJ - IOCL-1 Well Location East India, along the Assam shelf basin Participating Interest • 10% Photographs JV Partners (if any) • Operator – IOCL (90%) UTR- IOCL-1-ST Well Production • Yet to be s
Slide 28: Onshore | Umatara - Key Business Updates
Onshore | Umatara - Key Business Updates Drilling Plan Overview As per FDP # of Wells Dug In Pipeline Exp. Timeline 2 wells 2 wells nil FY27-28 Key Business Updates • First Development well UTR-IOCL-1-ST was drilled and completed in Jan 2026. The final drilled depth is 4,500m MD. • The well encounte
Slide 29: Onshore | Asjol
Onshore | Asjol The Block at a Glance Basin • Cambay North Balol • Southwestern flank of Location Mehsana horst Participating Interest • 50% JV Partners (if any) • GSPC (50%) Production • 8 boepd Asjol Block Reserves (Apr 1, 2026) • 0.1 MMboe Regime • Pre-NELP Page 28
Slide 30: Onshore | Asjol - Key Business Updates
Onshore | Asjol - Key Business Updates Drilling Plan Overview As per FDP # of Wells Dug In Pipeline Exp. Timeline 2 wells 2 wells nil FY27-28 • Carried out well activation in sick wells Asjol-5 & Asjol-7 for well revival plan • Workover in Asjol-5 is planned to replace the Progressive Cavity Pump (P
Slide 31: Onshore | North Balol
Onshore | North Balol The Block at a Glance Basin • Cambay North Balol • Along the crestal part of Location Mehsana horst Participating Interest • 25% JV Partners (if any) • GSPC (45%), GNRL (30%) Production • 63 boepd Asjol Block Reserves (Apr 1, 2026) • 0.21 MMboe Regime • Pre-NELP Page 30
Slide 32: Onshore | North Balol - Key Business Updates
Onshore | North Balol - Key Business Updates Drilling Plan Overview As per FDP # of Wells Dug In Pipeline Exp. Timeline 2 wells 2 wells nil FY27 • Obtained RFDP approval in relation to PSC extension beyond March 2027 • Produced 50 bbls high viscous oil from Well NB-11 by hot water circulation job •
Slide 33: Onshore | Palej
Onshore | Palej The Block at a Glance Basin • Cambay • Along the Eastern flank of Location Broach depression in Jambusar – Tectonic Block Participating Interest • 35% JV Partners (if any) • GSPC (35%), ONGC (30%) Production • 70 bopd Reserves (Apr 1, 2026) • 0.04 MMboe Regime • Pre-NELP Page 32
Slide 34: Onshore | Palej - Key Business Updates
Onshore | Palej - Key Business Updates Drilling Plan Overview As per FDP # of Wells Dug In Pipeline Exp. Timeline 3 wells Nil 3 wells FY27-28 • Palej oil wells are currently under-producing • A detailed technical evaluation of the wells has been completed, supported by simulation studies. • Full pro
Slide 35: Aspirations
03 ` Aspirations
Slide 36: Reserves
Reserves HOEC Net Balance Reserves (April 1, 2026 ) | GCA Certified (B-80, Dirok) 40.6 62.3 B-80 35.5 MMBOE MMBOE 1P Reserves (HOEC Net) 2P Reserves (HOEC Net) Dirok 9.6 PY-1 10.4 Kharsang 3.2 103+ 691 MMaBOE BCF PY-3 3.2 Upside: 3P Resources Total GIIP (2P) N.Balol 0.2 Other 0.3 556 0 10 20 30 40 M
Slide 37: Production | Growth Trajectory
Production | Growth Trajectory Net BOE/day — Jan 2026 baseline vs. drilling targets 0 5000 10000 15000 20000 25000 Current Target ~1.5K ~11K Jan 2026 2026 2027 BOE/D Net +7x Growth BOE/D Net Jun 2027 ~22.5K Jun 2028 2028 +15x Growth BOE/D Net Jun 2029 ~32K Oil (BOPD net) Gas BOE/d (net) 2029 +21x Gr
Slide 38: Production | Growth Trajectory
Production | Growth Trajectory Multi-asset, staged 2025-26 2026-27 2027-28 2028-29 well delivery Current Phase 1 Phase 2 Phase 3 programme 2026–2029 Phase IV (9 wells) Add 9 dev wells + 2 exp Add 9 dev wells Gas Monetisation Kharsang complete wells Dirok 5 wells producing ND-1 well; facility exp. Ad
Slide 39: Financials
04 ` Financials
Slide 40: Consolidated Statement of Profit & Loss
Consolidated Statement of Profit & Loss PARTICULARS (INR Cr.) Q4FY26 Q3FY26 FY26 FY25 INCOME Revenue from operations (190.57) 81.04 301.29 459.12 Less: Profit petroleum/ Revenue Sharing to GOI (15.32) (5.67) (38.13) (38.25) Other income 6.70 3.73 15.69 76.12 Total Income (199.18) 79.11 278.84 496.99
Slide 41: Consolidated Statement of Assets & Liabilities
Consolidated Statement of Assets & Liabilities PARTICULARS (INR Cr.) FY26 FY25 PARTICULARS (INR Cr) FY26 FY25 EQUITY AND LIABILITIES ASSETS Non-Current Asset 1637.44 1,340.04 Equity 1384.71 1321.26 (a) Property, Plant and Equipment (a) Equity share capital 132.26 132.26 (i) Oil & gas assets* 1,120.9
Slide 42: Standalone Statement of Profit & Loss
Standalone Statement of Profit & Loss PARTICULARS (INR Cr.) Q4FY26 Q3FY26 FY26 FY25 INCOME Revenue from operations (194.28) 77.32 288.03 343.88 Less: Profit petroleum/ Revenue Sharing to GOI (15.32) (5.67) (38.16) (37.81) Other income 6.29 6.20 24.76 78.91 Total Income (203.31) 77.86 274.62 384.98 E
Slide 43: Standalone Statement of Assets & Liabilities
Standalone Statement of Assets & Liabilities PARTICULARS (INR Cr.) FY26 FY25 PARTICULARS (INR Cr) FY26 FY25 EQUITY AND LIABILITIES ASSETS Non-Current Asset 1308.02 978.81 Equity 1269.68 1159.39 (a) Property, Plant and Equipment (i) Oil & gas assets 1,059.85 767.13 (a) Equity share capital 132.26 132
Slide 44: Glossary
05 ` Glossary
Slide 45: Glossary
Glossary Measurement Units: Policy Regimes : • OALP – Open Acreage Licensing Programme • MMBTU – Million British thermal units (Gas Pricing Unit) • Pre-NELP – Pre-New Exploration Licensing Policy • BOEPD – Barrels of oil equivalent per day (Common Unit for • DSF – Discovered Small Field Policy Oil &
Slide 46: Thank You
THANK YOU Investor Relations: Ernst & Young (EY LLP) Cyril Paul P: +91 99206 76610 E: cyril.paul@in.ey.com
Hindustan Oil Exploration Company — Q4 FY26 Earnings Presentation on 6ix