Lesha Steels Ltd has informed BSE that an Extra Ordinary General Meeting

(EGM) of the members of the Company will be held on January 17, 2008,
inter alia, have transact the following:

1. To invest in their absolute discretion deemed beneficial and in the

interest of the Company, upto an aggregate sum of Rs 60,00,00,000/-
(Rupees Sixty Crores only) in equity Shares Capital / Common Stock of
Geoglobal Resources Inc, subject to necessary provisions & approvals.

2. To issue and allot on preferential basis 15,90,000 Equity Shares to the

following stakeholders of the Geoglobal Resources Inco towards stock
swap to provide for acquisition Common Stock of Geoglobal Resources Inc
equivalent to Indian Rs 1.590 Crores as per the letter of intent which share
shall be subject to the provisions as per the requirement, if any, of the
Securities and Exchange Board of India.

(i) Name of the proposed allottees : Geoglobal Resources (P) Ltd

- No of Shares : 5,30,000
- Value (Rs) : 53,00,000/-

(ii) Name of the proposed allottees : Global Geophysical Services Ltd

- No of Shares : 5,30,000
- Value (Rs) : 53,00,000/-

(iii) Name of the proposed allottes : JPR-JMF INC

- No of Shares : 5,30,000
- Value (Rs) : 53,00,000/-

3. To issue and allot on preferential basic 39,50,000 Equity Share to the

following persons, as per the letter of intent which shares shall be subject
to lock in provision as per the requirements, if any, of the Securities and
Exchange Board of India

(i) Name of the proposed allottes : Midrina Oil & Gas Services (P) Ltd
- No of Shares : 8,55,000
- Value (Rs) : 85,50,000/-

(ii) Name of the proposed allottes : Shauya Organics (P) Ltd

- No of Shares : 8,55,000
- Value (Rs) : 85,50,000/-

(iii) Name of the proposed allottes : TIW Systems (P) Ltd

- No of Shares : 8,55,000
- Value (Rs) : 85,50,000/-

(iv) Name of the proposed allottes : Sureshsinhji P Desai H.U.F.

- No of Shares : 8,55,000
- Value (Rs) : 85,50,000/-

(v) Name of the proposed allottes : Advance Energy Resources &

Management (P) Ltd
- No of Shares : 5,30,000
- Value (Rs) : 53,00,000/-

4. To create, offer, issue and allot 43,00,000 warrants on a preferential basis

to the strategic investors as exhibited below ("warrants") with each warrant
convertible in to one Equity Share of the Company of nominal value of Rs
10/- each at par so the total number of Equity Shares to be issued by the
Company on conversion of the warrant does not exceed 43,00,000 Equity
Shares, on such terms and conditions as may be decided and deemed
appropriate by the Board of Directors of the Company ("Board" which shall
be deemed to include any duly authorized committee thereof) at time of
issue or allotment :

(i) Name of the proposed allottes : Midrina Oil & Gas Services (P) Ltd
- No of Warrants: 7,00,000
- Value (Rs) : 70,00,000/-

(ii) Name of the proposed allottes : Shaurya Organics (P) Ltd

- No of Warrants : 7,00,000
- Value (Rs) : 70,00,000/-

(iii) Name of the proposed allottes : TIW Systems (P) Ltd

- No of Warrants : 7,00,000
- Value (Rs) : 70,00,000/-

(iv) Name of the proposed allottes : Sureshsinhji P Desai H.U.F.

- No of Warrants : 7,00,000
- Value (Rs) : 70,00,000/-

(v) Name of the proposed allottes : Rhetan Estates (P) Ltd

- No of Warrants : 15,00,000
- Value (Rs) : 1,50,00,000/-

5. To increase the Authorised Share Capital of the Company from Rs

6,00,00,000/- (Rupees Six Crores only) to Rs 16,00,00,000/- (Rupees Sixteen
Crores only) by creation of 1,00,00,000/- additional equity shares of Rs 10/-
each ranking pari passu with the existing equity shares of the Company
and consequential amendments in the Memorandum of Association of the
Company.
6. To change the name of the Company from "Lesha Steel Ltd" to "Lesha
Energy Resources Ltd", subject to necessary provisions & approval.

Gorlas Group forays into oil and gas sector

Our Bureau 1 June 2007
Acquires operational blocks in Cambay, Yemen, Egypt
Hyderabad May 31 The Rs 45-crore Gorlas Group, with interests in urban
infrastructure, has entered the oil and gas exploration and production
sector by forging joint ventures with Indian and global players to tap
the resources in Cambay area and abroad.
Alkor Petroo Ltd, a group company, has about 74,000 sq km in seven
blocks under various stages of exploitation.
It has acquired through successful bidding operational blocks in Cambay
basin (2), Republic of Yemen (3) and Egypt (2).
The company has working joint ventures with ONGC, GSPC, Jubilant Oil
& Gas and HOEC for Indian operations.
Abroad, it has tied up with Geo Global, Canada and Gallo Oil (Jersey),
Indonesia, along with the Indian companies in consortium arrangement,
according to Mr G. Saibabu, Chairman and Managing Director.
"We have committed over Rs 11 crore in the next 3-5 years to expand
the business operations," he told newspersons.
Mr Surya Nanduri, Director (Finance), said the company had the
financial strategy in place to raise resources and commit them for
operations and joint ventures for the next five years.
Ties up with GSPC

Having tied up with GSPC for supply of gas and IOC for oil, the company
is confident of raising its supply to 1,000 barrels per day of oil and gas
equivalent in 2009.
The closely held company, with about 180 employees, in 2004 acquired
Heramec Ltd from Hardy Oil of the UK for an undisclosed sum, to get
rights on its six developmental fields in Cambay.
It also runs a software firm called Alkor Technologies.
In urban infrastructure, it flagship company Jayadarsini Housing is
executing Gorlas Citi, a Rs 250-crore (phase-I) project spread over 80
acres on the outskirts of Hyderabad.
It will have 450 villas, apartments and a business park.
Finances are being sourced from banks and internal accruals, Mr
Saibabu said.
Gorlas procures Cambay blocks

PM News Bureau

Gorlas Group, a Hyderabad-based company involved in urban

infrastructure and software, has acquired two operational blocks in
Cambay basin through successful bidding. The blocks include three
in the Yemen republic and two in Egypt.

The group has working joint ventures with Jubilant Oil & Gas, GSPC,
HOEC and ONGC for Indian operations.
It has alliances with Gallo Oil (Jersey) of Indonesia and Canada-based
Geo Global, along with Indian companies in consortium arrangements.
Gorlas has become involved in oil and gas exploration and the production
sector through joint ventures with Indian and global players to tap
resources in Cambay area and overseas. Alkor Petroo, a group company,
has about 74,000 sq. km. in seven blocks under different stages of
exploitation.
Alkor has tied up with the Gujarat State Petroleum Corporation for supply
of gas and with IOC for oil. The company is certain about increasing its
supply to 1,000 barrels per day of oil and gas equivalent in 2009.

[04 June 2007]