Oil&gas Regs Regulatory News (OGDC)

18 Apr 2008 12:58

Oil and Gas Development Company Ltd18 April 2008 No. CS04-08(KSE/LSE/ISE) April 18, 2008 1. The General Manager 3. The Secretary Karachi Stock Exchange (Guarantee) Islamabad Stock Exchange (Guarantee) Limited, Stock Exchange Building Limited, 101-E, Fazal-ul-Haq Road Stock Exchange Road Islamabad Karachi Fax No. 051-2275044 Fax No. 021-111-573-329 2. The Secretary 4. London Stock Exchange Plc. Lahore Stock Exchange (Guarantee) 10 Paternoster Square, Limited, 19-Khayaban-e-Iqbal London EC4M 7LS Lahore Tel: (44) 020 7334 8907 Fax. No. 042-111441441 Subject: DISCOVERY OF HYDROCARBON IN MOOLAN NORTH WELL NO. 01 (EXPLORATORY) - LASHARI D&PL Dear Sir, By the grace of Almighty Allah, Oil and Gas Development CompanyLimited (OGDCL) has discovered gas and condensate in its Exploratory MoolanNorth Well No. 01. 2. Moolan North Well No. 01 structure was delineated in Lashari D&PLarea, falling in district Hyderabad of Sindh Province. The well was drilleddown to the depth of 2329 meters. The initial testing results are tabulated asunder: Gross Production (BPD) 1200Oil production (BOPD) 1150Water production (BPD) 50API of Oil (Degree) 45S.G. of Water 1.02Chlorides in Water (PPM) 17395 3. The above is being provided to you in compliance with therequirements of Clause No. (xxiii) of the Code of Corporate Governance. Thanking you. Yours faithfully, (Basharat A. Mirza) GM / Company Secretary CC: 1. The Chairman Securities and Exchange Commission of Pakistan Islamabad2. The Commissioner (Enforcement), Securities and Exchange Commission of Pakistan, Islamabad This information is provided by RNS The company news service from the London Stock Exchange