Last checked at 16 Feb 2009 15:33
XXXXX 2623072
No. CS04-08(KSE/LSE/ISE) February 16, 2009
| 1. | The General Manager Karachi Stock Exchange (Guarantee) Limited, Stock Exchange Building Stock Exchange Road Karachi Fax No. 021-111-573-329 | 3. | The Secretary Islamabad Stock Exchange (Guarantee) Limited, 101-E, Fazal-ul-Haq Road Islamabad Fax No. 051-2275044 |
| 2. | The Secretary Lahore Stock Exchange (Guarantee) Limited, 19-Khayaban-e-Iqbal Lahore Fax. No. 042-111441441 | 4. | London Stock Exchange Plc. 10 Paternoster Square,London EC4M 7LS Tel: (44) 020 7334 8907 |
Subject: GAS DISCOVERY AT QADIRPUR DEEP WELL NO. 01 (EXPLORATORY) - QADIRPUR D&PL, DISTRICT GHOTKI, SINDH
Sir,
By the grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL) has discovered gas from its Exploratory Well i.e. Qadirpur Deep # 1 (Qadirpur D&PL), located in district Ghotki of Sindh province.
2. Qadirpur Joint Venture comprises OGDCL (Operator), KUFPEC, Pakistan Petroleum Limited, Premier Oil and PK PEL-2 (KUFPEC) having 75.00%, 08.50%, 07.00%, 04.75% & 04.75% working interests respectively. Qadirpur Deep # 01 well was drilled down to the Total Depth (T.D.) of 4,703 Meters. Based on electric, geological & drilling data the production testing was carried out to test the potential of the well. A total of five DSTs were conducted, out of which three were conducted in Sembar formation and two in Lower Goru formation. Out of these five DSTs, only DST # 02 in Sembar formation (4,496 M - 4,478 M = 18 M) was productive; which produced 4.28 MMSCFD of gas at wellhead flowing pressure of 770 Psi on 32/64" choke. The short duration initial testing results of Zone-01 are tabulated as under:
| CHOKE SIZES | WHFP (PSI) | Quantity of Gas (MMSCFD) | Quantity water (BPD) |
| 32/64" | 770 | 4.28 | 46 |
3. The above is being provided to you in compliance with the requirements of Clause No. (xxiii) of the Code of Corporate Governance.
Thanking you.
Sincerely,
(Eram Ali Aziz)
Company Secretary