3rd Nov 2016 09:37
OIL AND GAS DEVELOPMENT COMPANY LIMITED
No. CS04-08 (PSX/LSE)/2
November 03, 2016
1. | The General Manager, Pakistan Stock Exchange Limited,Stock Exchange Building, Stock Exchange Road,Karachi-74000, Pakistan.
Fax No. (92-21) 3241 0825, 3241 5136
| 2. | London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS.
Tel: (44) 20 7334 8907 |
Subject: DISCOVERY OF GAS AT KHAMISO#01
Dear Sir,
The joint Venture of Guddu Block comprising Oil & Gas Development Company Limited (OGDCL) as Operator (70%), SEPL (13.5%), IPRTOC (11.5%) & GHPL (5%) has discovered Gas from an Exploratory well namely Khamiso # 01, which is located in District Ghotki, Sindh Provice.
2. The structure of Khamiso #01 was drilled and tested sing OGDCL's in house expertise. The well was drilled down to the depth of 753 Meter. The well has tested 2.95 MMSCFD of gas through 32/64" choke at well head flowing pressure of 505 Psi FROM Pirkoh Limestone formation.
3. The discovery has opened up a new avenue and would add hydrocarbon reserve base of OGDCL, Joint Venture Partners and of the country.
4. The above information is submitted in compliance with Code of Corporate Governance for dissemination amongst your members please.
Yours Sincerely,
(Ahmed Hayat Lak)
Company Secretary
CC: Securities & Exchange Commission of Pakistan
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