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

Oil And Gas Development CoAnnouncement

20/02/2026 07:00

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RNS Number : 7836T  Oil and Gas Development Company Ltd  20 February 2026

 

 

 

CS04-08 (PSX/LSE/SECP)

February 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
LUMSHIWAL FORMATION, 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 Lumshiwal formation at its exploratory well
Baragzai X-01 (Slant) well, located in district Kohat, Khyber Pakhtunkhwa
Province, Pakistan.

During Cased Hole Drill Stem Test (CHDST-04) conducted in Hangu &
Lumshiwal formations, the well produced oil at the rate of 225 barrels per day
(BOPD) and gas at the rate of 1.01 million standard cubic feet per day
(MMSCFD), through 32/64'' choke size, at wellhead flowing pressure (WHFP) of
190 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, three
cased hole drill stem tests were earlier conducted in Kingriali, Datta and
Samana Suk + Shinawari 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.

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