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

Oil And Gas Development CoAnnouncement

04/03/2026 07:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260304:nRSD2869Va&default-theme=true

RNS Number : 2869V  Oil and Gas Development Company Ltd  04 March 2026

 

 

 

 

 

CS04-08 (PSX/LSE/SECP)

March 04, 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 LOCKHART
LIMESTONE, 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 Lockhart Limestone at its exploratory well
Baragzai X-01 (Slant), located in District Kohat, Khyber Pakhtunkhwa Province,
Pakistan.

 

During cased-hole Drill Stem Test (DST-05) in Lockhart Limestone, the well
flowed at a rate of 3,765 barrels of oil per day (BOPD) and 11.2 million
standard cubic feet per day (MMSCFD) of gas, through a 32/64″ choke at a
wellhead flowing pressure of 4,080 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 the wireline logs evaluation, four
cased hole drill stem tests were earlier conducted in Kingriali, Datta, Samana
Suk + Shinawari and Hangu + Lumshiwal formations, which also resulted in Oil
and Gas discoveries.

 

This oil and gas discovery will contribute toward 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 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.

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  MSCDZLBBQXLFBBZ



            Copyright 2019 Regulatory News Service, all rights reserved