Last checked at 15 Sep 2015 09:14
| OIL & GAS DEVELOPMENT COMPANY LIMITED (BOARD SECRETARIAT) | ||||
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No. CS04-08 (KSE / LSE / ISE)
September 15, 2015
1. | The General Manager, Karachi Stock Exchange (G) Limited, Stock Exchange Building, Stock Exchange Road, Karachi. Fax No: 021-111-573-329, 2437560. 2460923, 2415763 | 2. | The Secretary, Lahore Stock Exchange (G) Limited, 19-Khayaban-e-Aiwan-e-Iqbal, Lahore. Fax. No. 042-36368485 |
3. | The Secretary, Islamabad Stock Exchange (G) Ltd, 55-B, ISE Towers, Jinnah Avenue, Islamabad. Fax No. 051-111473329 | 4. | London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS. Tel: (44) 20 7334 8907 |
SUBJECT: DISCOVERY OF GAS AT ARADIN-I
Dear Sir,
By the grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL), as an operator of Khewari Exploration Licence, together with its Joint Venture Partner i.e. Government Holdings Private Limited (GHPL) has discovered a new Hydrocarbon bearing horizon from exploratory well Aradin-I. This is the 104th discovery and a significant landmark achieved by OGDCL. This well is located in District Khairpur, Sindh in Khewari Exploratory Licence.
2. Aradin well # 1 was drilled down to the depth of 4,270 M targeting to test the potential of Lower Goru (Massive Sand) formation. Significant reserves of Hydrocarbons have been found at Aradin Well # 1. Massive Sands of Lower Goru formation have been tested, delivering 5.10 MMCFD gas through 20/64" choke at wellhead flowing pressure 2,750 Psi. This discovery will add to the Hydrocarbon reserves base of the Company and Joint Venture Partners, bringing significant savings to the country.
3. The above is being provided in compliance with the requirements of Clause No. (xx) of the Code of Corporate Governance.
Thanking you,
Yours sincerely,
(Ahmed Hayat Lak)
Company Secretary