REG - Oil and Gas Devt Co - 4th Gas and Condensate Discovery at Spinwam-1 Well

Oil And Gas Development CoAnnouncement

08/04/2025 08:45

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RNS Number : 0915E  Oil and Gas Development Company Ltd  08 April 2025

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)/1

April 08, 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:     4(th) Gas and Condensate Discovery at Spinwam-1 Well, in the
Lockhart Formation, Waziristan Block

 

Dear Sir,

 

We are pleased to report fourth gas and condensate discovery in the Lockhart
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 testing in Lockhart has shown the following flowing parameters:

 

 Choke   Gas      Condensate  Well Head Flowing Pressure (WHFP) psig

 Size    MMSCFD   bbl/day
 64/64"  70.3     310         3,264
 32/64"  29.3     166         4,993

 

This discovery follows our previous announcements on February 25, 2025, March
18, 2025 and April 03, 2025, communicating hydrocarbon discoveries in the
Samanasuk, Kawagarh, and Hangu formations, respectively in the same well. The
testing program of all the target formations in the well has now been
concluded.

 

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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