REG - Oil and Gas Devt Co - OIL AND GAS DISCOVERY AT BARAGZAI X-01 (SLANT)

Oil And Gas Development CoAnnouncement

20/01/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260120:nRST5544Pa&default-theme=true

RNS Number : 5544P  Oil and Gas Development Company Ltd  20 January 2026

 

 

CS04-08 (PSX/LSE/SECP)

January 20, 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:    OIL AND GAS DISCOVERY AT BARAGZAI X-01 (SLANT) OVER SAMANA SUK
& SHINAWARI FORMATIONS, NASHPA BLOCK, KHYBER PAKHTUNKHWA, PAKISTAN

Dear Sir,

We are pleased to inform that Oil and Gas Development Company Limited (OGDCL),
operator of Nashpa Exploration License (65% working interest), together with
its joint venture partners - Pakistan Petroleum Limited (PPL) 30% and
Government Holdings (Private) Limited (GHPL) (5% carried interest) - has made
an oil and gas discovery over Samana Suk & Shinawari formations at its
exploratory well Baragzai X-01 (Slant), located in District Kohat, Khyber
Pakhtunkhwa Province, Pakistan.

During Cased Hole Drill Stem Test (CHDST-03) conducted in Samana Suk &
Shinawari formations, the well flowed at the rate of 3,100 barrels of oil per
day (BOPD) and 8.15 million standard cubic feet per day (MMSCFD) of gas,
through 32/64″ choke size, at wellhead flowing pressure (WHFP) of 3,010
psig.

Baragzai X-01 (Slant) well was spud-in on December 30, 2024, as an exploratory
well in Nashpa Exploration License to test the hydrocarbon potential of
Lockhart, Hangu, Lumshiwal, Samana Suk, Shinawari, Datta, and Kingriali
formations. The well was successfully drilled down to a total depth of 5,170
meters into Kingriali Formation. Based on wireline logs evaluation, two
cased-hole drill stem tests were earlier conducted in Kingriali and Datta
formations, which resulted in oil and gas discoveries.

This discovery will contribute towards mitigating the energy supply-demand gap
through indigenous resources and will add to the hydrocarbon reserves base of
OGDCL, 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, Supervision Division, SECP, Islamabad.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCXBLBLQFLBBBL



            Copyright 2019 Regulatory News Service, all rights reserved