REG - Oil and Gas Devt Co - GAS/CONDENSATE DISCOVERY AT TOGH-02 (SLANT)

Oil And Gas Development CoAnnouncement

26/03/2024 07:00

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RNS Number : 3006I  Oil and Gas Development Company Ltd  26 March 2024

   OIL & GAS DEVELOPMENT COMPANY LIMITED

   (BOARD SECRETARIAT)

CS04-08 (PSX/LSE/SECP)

March 26, 2024

 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

 Fax No. (92-21) 3241 0825, 3241 5136

 

 

Subject:     GAS/CONDENSATE DISCOVERY AT TOGH-02 (SLANT) EXPLORATORY PART
(LUMSHIWAL-II FORMATION), IN KOHAT BLOCK, KHYBER PUKHTUNKHWA, PROVINCE
PAKISTAN

Dear Sir,

 

Oil & Gas Development Company Limited (OGDCL), the operator of the Kohat
Exploration License, governed under the Pakistan Petroleum & Exploration
Rules, 2001, located in the District of Kohat, Khyber Pakhtunkhwa, has
discovered hydrocarbons in the exploratory segment of the Togh-02 (Slant) well
in the Lumshiwal-II Formation, on sole risk between OGDCL (75%) and M/s Saif
Energy Limited (SEL) (25%).

The well was spudded on August 28, 2023, and successfully reached its total
depth (TD) at 2,600 meters measured depth (MD). Based on the interpretation of
wireline logs, the Cased Hole Drill Stem Test (CHDST-01) was performed in the
Lumshiwal-II Formation. The well flowed at a rate of 2.842 million standard
cubic feet per day (MMSCFD) of gas and 28 barrels per day of condensate
(BPDC), with a wellhead flowing pressure of 540 pounds per square inch (PSI)
at a 32/64" choke size.

It is noteworthy that this gas/condensate discovery has further extended the
hydrocarbon play area in the Togh Structure with potential new opportunities.

The above information is submitted in compliance with 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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