Released: 04/03/2010

 
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RNS Number : 0613I
Hardy Oil & Gas plc
04 March 2010 
 
For immediate release                                                                                    4 March 2010 
 
Hardy Oil and Gas plc 
 
("Hardy" or "the Company") 
 
Management Change 
 
Hardy Oil and Gas plc (LSE : HDY), the oil and gas exploration and production company with interests predominantly in
India, today announces that Sastry Karra will be relinquishing his current position as Chief Executive and maintain an
ongoing involvement with the Company as a Non Executive Director.  Yogeshwar Sharma, currently Chief Operating Officer,
will succeed Sastry Karra as Chief Executive Officer effective 31 March 2010. 
 
While Hardy will continue to benefit from Sastry's advice and counsel as a Non Executive Director, the Board wishes to
acknowledge his immense contribution to Hardy, which he co-founded in 1997. Mr Karra was instrumental in building the
company's unique spread of exploration acreage in India that led to the successful listing of the company first on AIM and
later on the London Stock Exchange.  His knowledge of the business, established over a forty year career, and network of
contacts has been, and will continue to be, invaluable to Hardy. 
 
The Board is pleased to announce the appointment of Mr Yogeshwar Sharma as Chief Executive Officer of Hardy, and the
transfer of responsibility is already underway.  Mr Sharma co-founded Hardy with Mr Karra and has over 35 years of
experience in the oil and gas business. We look forward to continued growth and development under Mr Sharma. 
 
Commenting on the management change, Mr Mortimer, Chairman of Hardy said: 
 
"We would like to thank Sastry for his tireless work over the past twelve years as Chief Executive of Hardy and are very
pleased that he will continue as a Non Executive Director.  It was Sastry's vision that has placed Hardy in the position it
is today.  The management is determined to fulfill the potential of that vision." 
 
For further information please contact: 
 
Hardy Oil and Gas plc                                                     020 7471 9850 
 
Yogeshwar Sharma 
 
Dinesh Dattani 
 
Arden Partners plc                                                           020 7 614 5917 
 
Richard Day 
 
Matthew Armitt 
 
Buchanan Communications                                            020 7466 5000 
 
Mark Edwards 
 
Ben Romney 
 
NOTES TO THE EDITORS 
 
Hardy Oil and Gas plc is an upstream international oil and gas company whose assets are principally in India. Its portfolio
includes a blend of exploration, appraisal, development, and production assets.  Hardy's goal is to evaluate and exploit
its asset base with a view to creating significant value for its shareholders. 
 
Hardy Oil and Gas plc has existing production from an offshore field in India's Cauvery Basin.  Hardy also has interests in
four offshore exploration blocks in India's Krishna Godavari, Saurashtra, and Cauvery Basins and one onshore exploration
block in the Assam Basin and two development licences in Nigeria. 
 
Hardy is incorporated under the laws of the Isle of Man and headquartered in London, UK. Ordinary shares of Hardy were
admitted to the Official List and the London Stock Exchange's market for listed securities effective 20 February 2008 under
the symbol HDY. 
 
The Company's Indian assets are held through the wholly owned subsidiary Hardy Exploration & Production (India) Inc,
located in Chennai, India. The Company's Nigerian assets are held through wholly owned subsidiary Hardy Oil Nigeria
Limited, located in Lagos, Nigeria. 
 
For further information, please refer to our website at www.hardyoil.com 
 
This information is provided by RNS
The company news service from the London Stock Exchange