Discovery

No.CS04-08/04-09/04-10(KSE/LSE/ISE)

December 4, 2014

1. The General Manager 2. The Secretary

Karachi Stock Exchange (G) Ltd Lahore Stock Exchange (G) Ltd

Stock Exchange Building 19-Khayaban-e-Aiwan-e-Iqbal

Stock Exchange Road Lahore

Karachi Fax:042-36368485

Fax:021-111-573-329, 2437560

3. The Secretary 4. London Stock Exchange Plc.

Islamabad Stock Exchange (G) Ltd Paternoster Square

55-B, ISE Towers, Jinnah Avenue London EC4M 7LS

Islamabad Tel: (44) 020 7334 8907

Fax:051-111-473-329

Subject: DISCOVERY OF HYDROCARBONS AT JAND WELL # 01

Dear Sir,

By the Grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL) has discovered hydrocarbons bearing horizons in its exploratory well Jand # 01. This is the 102nd discovery and a significant landmark achieved by OGDCL. This well is located in district Attock, Punjab province in Dakhni M.L. with OGDCL (100%) as operator.

This structure was delineated, drilled and tested using OGDCL's in-house expertise. The well was drilled down to the depth of 6050 M targeting to test the hydrocarbon potentials of Sakessar, Chorgali, Nammal, Patala and Lockhart formations.

The hydrocarbons have been found at Jand # 01. Sakessar and Chorgali formations have been tested jointly delivering 10.60 MMCFD Gas and 21 BPD condensate through 32/64" Choke at Well Head flowing pressure of 1780 PSI.

This discovery will add to the hydrocarbon reserves base of the Company, bringing signification savings to the Country.

Thanking you.

Yours truly,

(Ahmed Hayat Lak)

 Company Secretary