27 Aug 2019 08:21
No. CS04-08 (PSX/LSE/SECP)
August 27, 2019
1. | The General Manager, Pakistan Stock Exchange Limited,Stock Exchange Building, Stock Exchange Road,Karachi-74000, Pakistan.
Fax No. (92-21) 3241 0825, 3241 5136
| 2. | London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS.
Tel: (44) 20 7334 8907 |
Subject: DISCOVERY OF GAS & CONDENSATE AT TOGH WELL # 01
Dear Sir,
The joint venture of Kohat E.L comprising Oil and Gas Development Company Limited (OGDCL) as operator (50%), Mari Petroleum Company Limited (MPCL) (33.33%) & Saif Energy Limited (SEL) (16.67%) has discovered gas & condensate from its exploratory efforts at Well Tough-01, which is located in district Kohat, Khyber PakhtoonKhawa Province.
2. Togh Well # 01 was drilled and tested using OGDCL's in house expertise in consultation with Kohat Joint Ventures MPCL and Saif Energy. The well was drilled down to the depth of 3200 meters. The well was tested at the rate of 12.7 Million Standard Cubic Feet Per Day (MMSCFD) gas, 240 BPD condensate through choke size 32/64" at Well head flowing pressure (WHFP) 2478 Pounds per Square Inch (Psi) from Lumshiwal formation.
3. The discovery of Togh Well # 01 is the result of aggressive exploration strategy adopted by Kohat the Joint Venture. It has opened a new avenue and would add to the hydrocarbon reserves base of the OGDCL, Joint venture partners and of the country.
4. The above information is submitted in compliance with Clause 5.19.13(c) of Code of Corporate Governance contained in the rule book of the exchange for dissemination amongst your members please.
Yours Sincerely,
(Ahmed Hayat Lak)
Company Secretary
Copy:
Director/HOD,
Surveillance, Supervision and Enforcement Department
Securities & Exchange Commission of Pakistan,
NIC Building, 63 Jinnah Avenue, Blue Area,
Islamabad
Oil&gas Regs (OGDC)