Hindustan Oil Exploration Co., Ltd. · NSE:HINDOILEXP
Hindustan Oil Exploration — Q2 FY27 Earnings Presentation
41 slides from Hindustan Oil Exploration's earnings presentation, Nov 6, 2026
Slide 1: Cover letter to stock exchanges
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: [email protected] ● Website: www.hoec.com CIN: L11100GJ1996PLC029880 November 6, 2026 By Online The Listing Departmen
Slide 2: Earnings Presentation Q2 & H1 FY27
EARNINGS PRESENTATION Q2 & H1 FY27 | November
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 Financials 04 Glossary
Slide 5: HOEC – At a Glance
O1 HOEC - Ata Glance
Slide 6: HOEC at a Glance
HOEC at a Glance Performance Snapshot as of September 30, 2026 Corporate Structure H1 FY27 Market Cap Revenue* EBITDA* PAT* Financial ₹2,000 Cr# ₹275.8 Cr ₹63.2 Cr ₹25.1 Cr 100% 100% Highlights 33% 5% 46% Hindage Oilfield Geopetrol Int’l Services Ltd Inc. 100% Q2 FY27 Q2 FY26 H1 FY27 H1 FY26 Geop
Slide 7: Asset portfolio across key resource-rich locations in India
Asset portfolio across key resource-rich locations in India Asjol North Balol Camba Palej y Dirok Kharsang INDIA Assam Umatara Reserves (MMBOE) Sept-26 Arakan Block-19 1P Reserves 74.5 2P Reserves 104.4 Mumbai High PY-1 Cauvery B-15 B-80 PY-3 B-174 Onshore Offshore Onshor Offshor Onshore Oil Well Oi
Slide 8: Q2FY27 Key Business Updates 1/3
Q2FY27 at a Glance | Key Business Updates 1/3 Mumbai High: B15: Field Development Plan preparation for the DSF block underway. B80: Workover of D1/D2 and drilling of 3 new wells under preparation; contracting near completion. Workover targeted to begin Q3 2026. Export Gas Compressor configurat
Slide 9: Q2FY27 Key Business Updates 2/3
Q2FY27 at a Glance | Key Business Updates 2/3 Cambay: CB-ON/7: 10-year PSC extension granted on 17 August 2026, effective 23 November 2025. PSC amendment under final review with DGH/MoPNG; signing of the R2 area awaited from MoPNG. Palej: Production increased 20% following processing plant mod
Slide 10: Q2FY27 Key Business Updates 3/3
Q2FY27 at a Glance | Key Business Updates 3/3 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 well drilling plans to
Slide 11: Asset-wise Updates
O2 _ Asset-wise Updates
Slide 12: HOEC 2P Reserves cross 100 MMBOE with B174 award
HOEC 2P Reserves cross 100 MMBOE with B174 award Share of HOEC Net 1P Net 2P Block signed Basis share (MMboe) (MMboe) 2P B-80 100% 23.15 35.53 53.6% GCA 2020 NET TO HOEC AAP-ON-94/1 (Dirok) 26.882% 8.84 13.51 20.4% GCA 2024 PY-1 100% 7.72 10.38 15.7% FDP / RFDP MCR Kharsang 35% 1.83 3.23 4.9% FDP /
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 Q2FY27 Production • 350 BOEPD HOEC 2P Reserves (Sept 30, 2026) • 35.44 MMBOE Regime • DSF /REVENUE Page
Slide 14: Offshore | B80 - Key Business Updates (HPCL)
Offshore | B80 - Key Business Updates 1. HPCL – HOEC Crude Offtake & Resolution Status Background In Aug 2025, HOEC supplied ~55000 mt 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 relates
Slide 15: Offshore | B80 - Key Business Updates
Offshore | B80 - Key Business Updates Drilling Plan Updates: Drilling Plan Overview o Workover of 2 existing subsea wells targeted in Q3FY27 post which drilling of 3 new wells to be done in Q4FY27 – Drilling Rig contract awarded. As per FDP # of Wells Dug In Pipeline Exp. Timeline 5 wells 2 wells
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 No
Slide 17: Offshore | B174
Offshore | B174 The Block at a Glance Key Business Updates • The Contract area comprises 6 Gas Basin • Mumbai High Discoveries and 2 Oil Discoveries • RSC was executed on 22-October-2026 • On the west coast of India, at Location a distance of ~50 to 150 km from Mumbai City Participating Interest • 1
Slide 18: 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 Q2FY27 Production • 40 BOEPD HOEC 2P Reserves (Sept 30, 2026) • 10.37 MMBOE Regime • Pre-NELP Page 17
Slide 19: Offshore | PY1 - Key Business Updates
Offshore | PY1 - Key Business Updates Only Offshore Production platform in Cauvery Offshore – 55 km Subsea line brings the gas on onshore gas terminal. Drilling Plan Overview Unique, gas-bearing offshore fractured granitic basement reservoir in India As per FDP # of Wells Dug In Pipeline Exp. Ti
Slide 20: 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 21: Onshore | Dirok
Onshore | Dirok The Block at a Glance Photographs Basin • Assam-Arakan • Margherita in Northeast India, Location along the Schuppen Belt of Upper Assam Participating Interest • 27% Photographs • Oil India Limited (44%), JV Partners (if any) Indian Oil Corporation (29%) Q2FY27 Production • 4684 BOEPD
Slide 22: 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 23: Onshore | Dirok - DNPL Pipeline Progress Map
Onshore | Dirok - DNPL Pipeline Progress Map Page 22
Slide 24: 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 ) Q2FY27 Production • 759 BOPD( Gross) Photographs HOE
Slide 25: Kharsang - Key Business Updates
Onshore | Kharsang - Key Business Updates Drilling Plan Overview As per FDP # of Wells Dug In Pipeline Exp. Timeline • Drilled 9 Development wells during the financial year 2025-26; 6 Phase 1 Phase 2 43 wells 9 wells 9 wells FY27 oil wells and 3 gas wells • Gross Production raised from 325 BOPD to 7
Slide 26: Onshore | Block-19
Onshore | BLOCK-19 Exploratory well The Block at a Glance Photographs Basin • Assam-Arakan • Ledo in NorthEast India, Location along the Schuppen Belt of Upper Assam Depth Structure Map Participating Interest • 100% Photographs JV Partners (if any) • None Exploratory well • Preparation for explorati
Slide 27: 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 28: 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 • Yet to be started, dri
Slide 29: 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 • IOCL is the operator ; HOEC has been supporting all subsurface and drilling operations of the operator. • First Development well UTR-
Slide 30: 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%) Q2FY27 Production • 9 BOEPD Asjol Block HOEC 2P Reserves (Sept 30, 2026) • 0.1 MMBOE Regime • Pre-NELP Page 29
Slide 31: 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 • Workover in Asjol-5 is planned to replace the Progressive Cavity Pump (PCP) • Drilling preparation to drill directional wells in Asjol is in progress • Proc
Slide 32: 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%) Q2FY27 Production • 76 BOEPD Asjol Block HOEC 2P Reserves (Sept 30, 2026) • 0.21 MMBOE Regime • Pre-NEL
Slide 33: 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 • Continuing crude oil production through Crude Oil Lifting Technology (COLT) – BELT Technology in NB-11 (continuous artificial lift). • Planned to install
Slide 34: 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%) Q2FY27 Production • 70 BOEPD HOEC 2P Reserves (Sept 30, 2026) • 0.12 MMBOE Regime • Pre
Slide 35: 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 36: Financials
O53 Financials
Slide 37: Consolidated Statement of Profit & Loss
Consolidated Statement of Profit & Loss PARTICULARS (INR Cr.) Q2 FY27 Q1 FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 INCOME Revenue from operations 151.78 124.01 325.31 275.78 410.81 301.29 Less: Profit petroleum/ Revenue Sharing to GOI (27.57) (9.83) (10.30) (37.40) (17.15) (38.13) Other income 5.20 20.16 2.
Slide 38: Standalone Statement of Profit & Loss
Standalone Statement of Profit & Loss PARTICULARS (INR Cr.) Q2 FY27 Q1FY27 Q2 FY26 H1 FY27 H1 FY26 FY26 INCOME Revenue from operations 147.42 117.45 321.51 264.87 404.99 288.03 Less: Profit petroleum/ Revenue Sharing to GOI (27.57) (9.83) (10.30) (37.40) (17.18) (38.16) Other income 8.67 19.37 6.89
Slide 39: Glossary
O4 Glossary
Slide 40: 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 41: Thank You
THANK YOU Investor Relations: Ernst & Young (EY LLP) Saloni Soni/ Viral Sanklecha P: +91 95832 74018 / 99871 23158 E: [email protected] / [email protected]
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