REG - Oil and Gas Devt Co - GAS/CONDENSATE DISCOVERY AT SOGHRI NORTH-1 WELL

Oil And Gas Development CoAnnouncement

17/03/2025 08:00

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RNS Number : 9111A  Oil and Gas Development Company Ltd  17 March 2025

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

March 17, 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:        GAS/CONDENSATE DISCOVERY AT SOGHRI NORTH-1 WELL IN
SOGHRI BLOCK, ATTOCK DISTRICT, PUNJAB PROVINCE

Dear Sir,

We are pleased to announce that Oil and Gas Development Company Limited
(OGDCL), being the operator of Soghri Exploration License with a 100% working
interest, has made a Gas and Condensate discovery from its exploratory efforts
at Soghri North-1 well, located in Attock District, Punjab Province, Pakistan.

Soghri North-1 well was spudded on May 21, 2024, as an exploratory well and
was drilled to a depth of 4,942 meters in Patala Formation. Based on
interpretation results of wireline logs, cased hole drill stem testing (DST-1)
was carried out in Chorgali-Sakesar-Nammal-Patala Formations. The well flowed
(after completion and post acid job) at rate of 13.95 Million Standard Cubic
Feet (MMSCFD) gas along with 430 barrels per day (BPD) of condensate through
choke size 32/64" at wellhead flowing pressure (WHFP) of 2890 Pounds Per
square inch (Psi) from Chorgali and Sakesar Formations.

This Gas/Condensate discovery will minimize the risk and will raise the
confidence for further exploration efforts in Soghri exploration license. This
discovery will also positively contribute to meet energy demand and supply gap
from indigenous resources and will add to the hydrocarbon reserves of OGDCL
and of the country.

 

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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