In this work, a film adhesive comprised of oxazolidone modified epoxy novolac resin is analysed for its rheo-kinetic and thermodynamic behaviour under both isothermal and non-isothermal condition using rheometer at the time of curing. The study also includes finding out the effect of thermoplastic toughening agent polyethersulfone (PES), on its rheo-kinetics and thermodynamics. Various kinetic parameters are derived using Kamal and Kissinger equation for isothermal and non-isothermal condition, respectively. Subsequently, the rate constants obtained from this study are used to compute the thermodynamic parameters for the activated state complex via absolute reaction rate theory proposed by Eyring.