REG - Oil and Gas Devt Co - Material information- Miran Block (3269-2)

Oil And Gas Development CoAnnouncement

10/12/2024 12:15

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RNS Number : 5411P  Oil and Gas Development Company Ltd  10 December 2024

CS04-08 (PSX/LSE/SECP)

December 10, 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

 

Subject:          FARM OUT OF 49% WORKING INTERST IN MIRAN BLOCK
(3269-2)

 

Dear Sir,

OGDCL participated in the bidding round for Miran Block located in North
Waziristan and Kurram Districts of Khyber Pakhtunkhwa (KPK), announced by M/s
Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL) to acquire 29% working
interest with operatorship of Miran Block, in consortium with M/s Pakistan
Petroleum Limited (PPL) and Government Holdings (Private) Limited (GHPL),
which hold 10% working interest each as joint venture partners. We are pleased
to inform you that OGDCL-led consortium, emerged successful in the second
bidding round.

2.       Participation in the bidding round aligns with the Company's
strategy to invest in its core business, accelerate exploratory activities,
and augment hydrocarbon reserves.

3.       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:

 

Director/HOD,

Office -II Department, Supervision Department

Securities & Exchange Commission of Pakistan,

NIC Building, 63 Jinnah Avenue, Blue Area,

Islamabad.

 

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