30 Jul 2015 07:00

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No. CS04-08 (KSE/LSE/ISE) July 29, 2015
1. | The General Manager, Karachi Stock Exchange (G) Ltd, Stock Exchange Building, Stock Exchange Road, Karachi. Fax No. 021-2437560, 2460923, 2415763 Â | 2. | The Secretary, Lahore Stock Exchange (G) Ltd, 19-Khayaban-e-Aiwan-Iqbal, Lahore. Fax No. 042-111441441 |
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 |
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Subject : DISCOVERY OF OIL AT CHAK NAURANG SOUTH-1
Dear Sir,
By the grace of Almighty Allah, Oil and Gas Development Company Limited has made oil discovery in Lower Sakessar over Chak Naurang South-1 exploration well located in District Chakwal, Punjab.
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2. The structure of well was delineated, drilled down to the depth of 3220 M targeting the Eocene reservoir of the sub thrust sheet to test potential of "lower Sakessar" formation. Significant reserves of hydrocarbons have been found at Chak Naurang South-1.
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3. The well initially produced 180 barrels per day of crude oil with jet pump. This discovery will add hydrocarbon reserves of the company and joint venture partners.
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4. The above is being provided to you in compliance with the requirement of Clause No. (XX) of the Code of Corporate Governance.
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 Yours Sincerely,
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(Ahmed Hayat Lak)
Company Secretary
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