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

Oil And Gas Development CoAnnouncement

02/01/2026 07:00

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RNS Number : 3663N  Oil and Gas Development Company Ltd  01 January 2026

 

 

 

 

 

CS04-08 (PSX/LSE/SECP)

January 01, 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) WELL - DATTA
FORMATION, NASHPA BLOCK, KHYBER PAKHTUNKHWA, PAKISTAN

Dear Sir,

 

We are pleased to announce 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 Datta Formation at its exploratory well
Baragzai X-01 (Slant), located in District Kohat, Khyber Pakhtunkhwa Province,
Pakistan.

 

During cased-hole Drill Stem Test (DST-02) in Datta Formation (Jurassic age),
the well flowed at the rate of 4,100 barrels of oil per day (BOPD) and 10.5
million standard cubic feet per day (MMSCFD) of gas, at 32/64″ choke size
with wellhead flowing pressure of 3,880 psig.

 

Baragzai X-01 (Slant) was spud-in on December 30, 2024 as an exploratory well
and drilled down to a total depth of 5,170 meters into Kingriali Formation.
Approximately 187 meters of Datta Formation was encountered. Based on good
hydrocarbon shows during drilling, interpretation of open-hole wireline logs
(petrophysical evaluation) and fracture indications on image logs, the
cased-hole drill stem test was conducted. Earlier, successful cased hole
testing (CHDST-01) in Kingriali Formation (Triassic age) at the well had also
proven to be a discovery.

 

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.

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