Discovery of Gas at Well Bhambhara Well 01

No. CS04-08 (PSX/LSE)

August 04, 2017

Subject: DISCOVERY OF GAS AT WELL BHAMBHRA # 01

Dear Sir,

Oil & Gas Development Company Limited (OGDCL) has discovered a Gas deposit from Bhambhra #01, exploration well which has been drilled in 100% owned Thal Exploration Licence located in District Sukkhur, Sindh Province.

2. The structure of Bhambhra # 01 was delineated, drilled and tested using OGDCL's in house expertise. The well was drilled down to the depth of 4023M. The well has tested 5.73 MMSCFD of gas through choke size 32/64" with well head flowing pressure 1000 Psi from Basal Sand of Lower Goru.

3. The discovery of Gas from Bhambhra # 01 would open new avenue and also add hydrocarbon reserves base of OGDCL and the country..

4. The above information is submitted in compliance with Code of Corporate Governance for dissemination amongst your members please.

 Yours Sincerely,

(Ahmed Hayat Lak)

Company Secretary