TR-1 - Notice of Major Interest

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Hardy Oil and Gas plc

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

x

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached 

An event changing the breakdown of voting rights

Other (please specify):______________

3. Full name of person(s) subject to notification obligation:

Perayya Sastry Karra

4. Full name of shareholder(s) (if different from 3):

5. Date of transaction (and date on which the threshold is crossed or reached if different):

6. Date on which issuer notified:

08 January 2009

7. Threshold(s) that is/are crossed or reached:

From 12% to 11%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible use ISIN code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Number of voting rights

Percentage of voting rights

Direct

Indirect

Direct

Indirect

GB00B09MB366

7,961,679

7,961,679

6,861,679

6,861,679

-

11.01%

-

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

Total (A+B)

Number of voting rights

Percentage of voting rights

6,861,679

11.01%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

Lynchwood Nominees Ltd 6,595,200

HSBC Client Holdings Nominee (UK) Ltd 256,479

Sastry Karra 10,000

Proxy Voting:

10. Name of proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

Notification using total voting rights figure of 62,321,047

14 Contact name:

Perayya Sastry Karra

15. Contact telephone number:

+44 (0) 7525831769