4th Jul 2008 08:24
No. CS04-08(KSE/LSE/ISE) July 4, 2008
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1. |
The General Manager Karachi Stock Exchange (Guarantee) Limited, Stock Exchange Building Stock Exchange Road Karachi Fax No. 021-111-573-329 |
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The Secretary Islamabad Stock Exchange (Guarantee) Limited, 101-E, Fazal-ul-Haq Road Islamabad Fax No. 051-2275044 |
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2. |
The Secretary Lahore Stock Exchange (Guarantee) Limited, 19-Khayaban-e-Iqbal Lahore Fax. No. 042-111441441 |
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London Stock Exchange Plc. 10 Paternoster Square, London EC4M 7LS Tel: (44) 020 7334 8907 |
Subject: GAS DISCOVERY AT DHODAK DEEP WELL NO. 01 (EXPLORATORY)
Dear Sir,
By the grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL) has discovered gas in its Exploratory Well Dhodak Deep 01, located in district Dera Ghazi Khan, Punjab province under the Dhodak D & PL.
2. Dhodak Deep Well No. 01 was spudded on June 30, 2007 and drilled down to the target depth of 4150 meters. On the basis of open hole logs & drilling data, the selective interval of 85 M in Chiltan limestone formation was tested through DST to evaluate the reservoir potential. After stimulation job, the well was tested and produced 5.5 Million Cubic Feet of gas per day through half inch choke size. The Well Head Pressure and Water Production was recorded as 1500 Psi and 60 bbls per day, respectively.
3. The above is being provided to you in compliance with the requirements of Clause No. (xxiii) of the Code of Corporate Governance.
Thanking you.
Yours faithfully,
(Basharat A. Mirza)
GM / Company Secretary
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