REG - Oil and Gas Devt Co - Oil and Gas discovery at Baragzai, Nashpa Block

Oil And Gas Development CoAnnouncement

10/12/2025 10:45

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RNS Number : 0238L  Oil and Gas Development Company Ltd  10 December 2025

 

 

 

CS04-08 (PSX/LSE/SECP)

December 10, 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:    OIL AND GAS DISCOVERY AT BARAGZAI X-01 (SLANT), NASHPA BLOCK,
KHYBER PAKHTUNKHWA

Dear Sir,

 

Oil and Gas Development Company Limited (OGDCL) has made a significant oil and
gas discovery at its exploratory well Baragzai X-01 (Slant) in Nashpa Block,
district Kohat, Khyber Pakhtunkhwa. The well flowed at a rate of 2,280 Barrels
per Day (BPD) of Oil and 5.6 Million Standard Cubic Feet per Day (MMSCFD) of
Gas, through choke size 32/64"at wellhead flowing pressure (WHFP) of 2400 psi.
This represents the first oil and gas discovery from Kingriali Formation in
Nashpa Block.

 

OGDCL is the operator of Nashpa Exploration License with 65% working interest,
along with its joint venture partners, Pakistan Petroleum Limited (PPL) with
30% working interest and Government Holdings (Private) Limited (GHPL) with 5%
carried interest.

 

Baragzai X-01 (Slant) well was spud-in on December 24, 2024 as an exploratory
well and drilled to a depth of 5,170 meters into the Kingriali Formation,
where a 90-meter-thick interval (Triassic age) was encountered. Based on
encouraging hydrocarbon shows and interpretation of open hole wireline logs, a
successful cased hole drill stem test (DST) was carried out.

This notable discovery has further de-risked deeper exploration in the area
and will contribute toward mitigating the energy supply-demand gap through
indigenous resources, while adding to the hydrocarbon reserves base of the
Company, its joint venture partners, and the country.

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
among your members.

Yours Sincerely,

 

 

 

(Wasim Ahmad)

Company Secretary

Copy:

 

Executive Director/HOD,

Offsite-II Department, Supervision Division,

Securities and Exchange Commission of Pakistan,

63 NIC Building, Jinnah Avenue, Blue Area,

Islamabad.

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