REG - Oil and Gas Devt Co - 3rd Gas and Condensate Discovery at Spinwam-1 Well

Oil And Gas Development CoAnnouncement

03/04/2025 08:15

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RNS Number : 5160D  Oil and Gas Development Company Ltd  03 April 2025

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

April 03, 2025

 The General Manager,               London Stock Exchange Plc.,

 Pakistan Stock Exchange Limited,   10 Paternoster Square,

Stock Exchange Building,

                                  London EC4M 7LS.
 Stock Exchange Road,

Karachi-74000, Pakistan.

                                    Tel: (44) 20 7334 8907

 

 

Subject:  3(rd) Gas and Condensate Discovery at Spinwam-1 Well, Waziristan
Block

 

Dear Sir,

 

With reference to our announcement dated March 18, 2025, regarding the
discovery at Spinwam-1 well in the Waziristan Block, Khyber Pakhtunkhwa from
the Kawagarh Formation, we are pleased to report third gas and condensate
discovery in the Hangu Formation at the Spinwam-1 Well. OGDCL holds a 35%
working interest in the Waziristan Block, with Mari Energies Limited as
Operator (55%) and Orient Petroleum Inc. (10%).

The well has flowed 23.85 MMSCFD of gas and approximately 122 barrels per day
of condensate at a 32/64" choke, with a Well Head Flowing Pressure (WHFP) of
4,042 psig. Testing of additional formations is in progress.

The above information is submitted in compliance of Section 96 of the
Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination
amongst your members please.

 

 

Yours Sincerely,

 
 

 

 

(Wasim Ahmad)

  Company Secretary

 

 

Copy:

 

Executive Director/HOD, Offsite-II Department, Supervision Division,

Securities & Exchange Commission of Pakistan, 63, NIC Building,

Jinnah Avenue, Blue Area,

Islamabad.

 

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