14th May 2009 14:48
No. CS04-08(KSE/LSE/ISE)
May 14, 2009
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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 |
3. |
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. 042-111-441-441 |
4. |
London Stock Exchange Plc. 10 Paternoster Square, London EC4M 7LS Tel: (44) 020 7334 8907 |
SUBJECT: DISCOVERY OF HYDROCARBON IN PASAKHI WEST DEEP WELL NO. 01 (EXPLORATORY)
Sir,
By the grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL) has discovered gas from its Exploratory Well i.e. Pasakhi West Deep Well # 1, located in District Hyderabad of Sindh Province.
2. The well was drilled down to the target depth of 3,500 Meters, targeting to test the potentials of Sands of Lower Goru Formation of Cretaceous Age. Based on log data, 02 zones were selected for testing. Production testing of Zone-1 (Massive-Sands) of Lower Goru Sand member started on May 04, 2009, which did not produce at surface. Production testing of Zone-2 (Massive-Sands) of Lower Goru Sand member started on May 11, 2009, which proved productive. The short duration initial testing results of Zone # 02 are tabulated as under:
|
CHOKE SIZE |
WHFP (PSI) |
Quantity of Gas (MMSCFD) |
Quantity of Condensate (BPD) |
Quantity of water (BWPD) |
|
32/64" |
1400 |
6.70 |
80 |
120 |
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.
Sincerely,
(Eram Ali Aziz)
Company Secretary
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