28th Jun 2016 07:55
No. CS04-08 (PSX/LSE)
June 28, 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: GAS DISCOVERY AT THAL WEST # 01 WELL
Dear Sir,
By the grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL) has discovered gas from its exploratory Well Thal West # 01, 100% owned by OGDCL located in District Sukhur, Sindh Province.
2. The structure of Thal West # 01 was delineated, drilled and tested using OGDCL's in house expertise. The well was drilled down to the depth of 3,983 M, targeting to test the hydrocarbon potential of Basal sands of Lower Goru Formation as primary objective. Significant reserves of Hydrocarbon have been found in the well Thal West # 01. The zone has produced 17.2 MMSCFD of gas through 36/64" choke at WHFP=2,820 Psig.
3. The discovery has opened up a new avenue and would add gas reserve base of OGDCL 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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