Participation in Bidding

OIL AND GAS DEEVELOPMENT COMPANY LIMITED

ISLAMABAD, PAKISTAN

No.CS04-08/04-09/04-10(KSE/LSE/ISE)

December 17, 2015

1. The General Manager 2. The Secretary

Karachi Stock Exchange (G) Ltd Lahore Stock Exchange (G) Ltd

Stock Exchange Building 19-Khayaban-e-Aiwan-e-Iqbal

Stock Exchange Road Lahore

Karachi Fax:042-36368485

Fax:021-111-573-329, 2437560

3. The Secretary 4. London Stock Exchange Plc.

Islamabad Stock Exchange (G) Ltd Paternoster Square

55-B, ISE Towers, Jinnah Avenue London EC4M 7LS

Islamabad Tel: (44) 020 7334 8907

Fax:051-111-473-329

Subject: SUBMISSION OF NON BINDING CASH OFFER FOR THE ENTIRE ISSUED

SHARE CAPITAL OF PREMIER OIL PAKISTAN HOLDINGS B.V. (POPH)

Dear Sir,

OGDCL is participating in the bidding round with regard to corporate sale of Premier Oil Pakistan Holdings B.V. (POPH) and has submitted a non binding cash offer for its entire issued share capital. The transaction will be subject to approval by OGDCL Board and execution of Sale Purchase Agreement (SPA) in case OGDCL's offer is accepted. The expected completion date for the transaction is June 30, 2016.

The above information is submitted in compliance with Code of Corporate Governance for dissemination amongst your members please.

Yours truly,

(AHMED HAYAT LAK)

Company Secretary