REG - Oil and Gas Devt Co - Material Information

Oil And Gas Development CoAnnouncement

02/01/2026 11:30

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RNS Number : 4905N  Oil and Gas Development Company Ltd  02 January 2026

 

 

 

 

 

CS04-08 (PSX/LSE/SECP)

January 02, 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:        Material information

 

Dear Sir,

 

We are pleased to announce the discovery of gas from Hangu & Lumshiwal
formation in Bilitang-1, an exploratory well located in district Kohat, Khyber
Pakhtunkhwa province. TAL Joint Venture comprises 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%).

 

The Well was spudded-in on August 10, 2025 and successfully drilled down to
4011 mTVD. Based on interpretation of LWD/Wirline logs data, Hangu &
Lumshiwal formations (Exploratory targets) were initially tested successfully
at rate of around 1.58 Million Standard Cubic Feet per day(MMscfd) gas at
40/64" choke, against wellhead flowing pressure (WHFP) 164 Pounds per Square
Inch (Psi).

 

This 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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