14th Sep 2009 07:00
No. CS04-08(KSE/LSE/ISE)
September 11, 2009
London Stock Exchange Plc.,
10 Paternoster Square,
London EC4M 7LS
Tel: (44) 20 7334 8906
SUBJECT: DISCOVERY OF HYDROCARBON IN NASHPA WELL NO. 01 - TESTING RESULTS OF UPPER LOCKHART
Sir,
Further to our letter of even number dated September 1, 2009 we would like to inform that Oil and Gas Development Company Limited (OGDCL), the Operator of Nashpa E.L., together with its Joint Venture partners i.e. PPL and GHPL has discovered significant hydrocarbon reserves at the upper Lockhart Zone of recent discovery made in Nashpa # 01 Well located in District Karak of NWFP Province.
Nashpa # 01 was spudded on June 29, 2008 and drilled down to the depth of 4,384 Meters. Initially, one of the potential zones, middle Lockhart was tested on August 31, 2009 which flowed 3,000 BBLs / Day of Crude Oil and 9.7 MMSCFD of Gas. Subsequently, testing of additional zones continued which resulted in finding of significant reserves of hydrocarbons at upper Lockhart. Initial testing of this zone conducted on September 10, 2009 has produced about 4,200 Barrels of Oil per day and 17 Million of Gas per day. These numbers will further improve as OGDCL plans to carry out stimulation job to enhance wells productivity.
|
Choke Size |
WHFP (PSI) |
Quantity of Oil (BBLS/D) |
Quantity of Gas (MMSCFD) |
Testing results of |
|
36/64" |
3,810 |
4,200 |
17.1 |
Upper Lockhart |
The above is being provided to you in compliance with the requirements of Clause No. (xxiii) of the Code of Corporate Governance.
Thanking you.
Sincerely,
(Eram Ali Aziz)
Company Secretary
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