REG - Oil and Gas Devt Co - Appraisal of Existing Discovery of Hydrocarbons

Oil And Gas Development CoAnnouncement

27/03/2026 10:15

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RNS Number : 4560Y  Oil and Gas Development Company Ltd  27 March 2026

 

 

 

CS04-08 (PSX/LSE/SECP)

March 27, 2026

 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:      Appraisal of Existing Discovery of Hydrocarbons in TAL Block
at Bilitang-1 (ST-1) Exploratory Well , Khyber Pakhtunkhwa Province Pakistan

Dear Sir,

 

We are pleased to announce that the TAL Joint Venture comprising Oil & Gas
Development Company Limited (OGDCL) (30% working interest), MOL Pakistan Oil
& Gas Co, B.V. (the Operator) (10%), Pakistan Petroleum Limited (PPL)
(30%), Pakistan Oilfields Limited (POL) (25%) and Government Holdings Private
Limited (GHPL) (5%) have appraised the existing discovered gas and condensate
( in traces) from Lumshiwal Formation in the Bilitang-1- ST-1 Exploratory
well, located in district Kohat, Khyber Pakhtunkhwa Province.

 

The Well was spudded-in on August 10, 2025 and was sidetracked to chase better
reservoir quality and has been successfully drilled down to 4004 mTVD. Based
on interpretation of LWD/Wireline logs data, Lumshiwal formation was tested
successfully at rate of around 26.5 Million Standard Cubic Feet per day
(MMscfd) gas at 32/64" choke, against wellhead flowing pressure (WHFP) 4214
Pounds per Square Inch (Psi).

 

This appraisal of existing discovery has de-risked further exploration play in
TAL Block, leading to new upside opportunities. The said discovery will also
help & contribute towards improving energy security of the country from
indigenous resources and add to the hydrocarbon reserves base of OGDCL, its
Joint Venture Partners and the Country.

 

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

 

 

Yours Sincerely,

 

 

 

(Wasim Ahmad)

Company Secretary

Copy:

Executive Director/HOD, Supervision Division, SECP, Islamabad.

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