Asian energy services Limited has announced the allotment of 1,62,677 equity shares under its Employee Stock Option Plan 2024 (AESL ESOP 2024). The Allotment Committee of the Board of Directors approved this allotment on February 13, 2026, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Share Allotment Details

The company allotted 1,62,677 fully paid equity shares with a face value of ₹10 each to eligible grantees who exercised their stock options under the AESL ESOP 2024 scheme. These shares will rank pari-passu with the existing equity shares of the company in all respects.

Impact on Share Capital

Following the allotment, Asian Energy Services Limited's paid-up share capital has increased significantly. The company's share capital structure shows a clear expansion from the exercise of employee stock options.

ESOP Scheme Framework

The AESL ESOP 2024 scheme operates under SEBI (Share Based Employee Benefits) Regulations, 2021. Originally, 3,80,744 stock options were granted to eligible employees on January 25, 2025, covering an equal number of fully paid-up equity shares with a face value of ₹10 each.

The vesting and exercise framework includes:

• Vesting Period: Options vest after completion of one year from the grant date
• Exercise Period: Vested options can be exercised within one year from vesting date
• Exercise Flexibility: Options can be exercised in one or more tranches
• Lock-in Status: No lock-in period applies to allotted shares

Financial Impact

The exercise of 1,62,677 stock options generated ₹1,62,67,700 for the company. The diluted earnings per share for the quarter ended December 31, 2025, stands at ₹4.93 per share on a standalone basis. The ESOP Compensation Committee of the company administers the entire scheme, ensuring compliance with regulatory requirements.

The allotment represents a significant milestone in the company's employee incentive program, demonstrating employee confidence in the organization's growth prospects while strengthening the company's capital base through the exercise of stock options.

Asian Energy Services Limited has announced a significant oil discovery in its Mevad Field operations in Gujarat, marking a major milestone for the company's exploration activities. The discovery was made in the newly drilled well NM-01 located in the Mevad Area of Mehsana district, Gujarat, as disclosed under Regulation 30 of SEBI regulations on January 31.

Well Specifications and Geological Formations

The NM-01 well was drilled to a total depth of 1,650 metres, encountering three distinct hydrocarbon-bearing sand intervals. The geological formations and current production status are detailed below:

The Sobhasan sand formation is currently the primary producing zone, while the Kalol-III reservoir has shown promising hydrocarbon indications based on logs and cuttings analysis.

Production Capacity and Potential

The well demonstrates strong production capabilities with significant upside potential:

According to Managing Director Kapil Garg, the results are better than initial estimates, with recoverable reserves from the field expected to increase significantly following this discovery.

Partnership Structure and Development Plans

The Mevad block operates under a Revenue Sharing Contract with defined participating interests:

Field partners plan to drill additional wells to evaluate the extent of the oil pool and assess the reservoir's development potential. The discovery coincides with Asian Energy's ongoing merger process with Oilmax Energy Private Limited.

Commercial Strategy and Market Arrangements

The company has established clear commercial arrangements for crude oil sales from the Mevad Field. Oil produced from the well will be supplied to domestic refineries under offtake arrangements, with crude pricing linked to the Brent benchmark to ensure market-aligned realisations.

This discovery provides Asian Energy with incremental domestic production exposure and is expected to add incremental cash flow while enhancing operational visibility during the consolidation period. The project underscores the company's focus on disciplined, low-cost resource development and strengthens its position in India's upstream oil and gas sector.