Dividend Declaration

26 Apr 2007 10:29

Oil & Gas Development Company Ltd26 April 2007 26, April 2007 OIL AND GAS DEVELOPMENT COMPANY LIMITED (OGDCL) DIVIDEND DECLARATION Oil and Gas Development Company Limited (OGDCL) are pleased to inform you thatthe Board of Directors of the Company in their meeting held on April 26, 2007 at10:30 a.m. at Islamabad, have approved as follows: CASH DIVIDEND Third Interim Cash dividend for the year 2006-07 on the basis of accounts forthe period ended March 31, 2007 @ Rs 2.00 per share i.e. 20 percent (Rupees Twoper share). This is in addition to the two interim dividends, each amounting toRs 1.75 per share i.e. 17.50%, (totaling to 35%) already declared during thefinancial year. The above entitlement will be paid to the shareholders whose names will appearin the Register of Members on June 15, 2007. The Share Transfer Books of theCompany will be closed from June 16, 2007 to June 23, 2007 (both daysinclusive). Transfers received at the Share Registrar's office: M/s NobleComputers Services (Pvt.) Limited, 2nd Floor, Sohni Centre; BS 5 & 6, MainKariamabad; Block-4, Federal B. Area, Karachi-75950 at the close of business onJune 15, 2007 will be treated in time for the purpose of above entitlement tothe transferees. The financial results of the Company are enclosed as Annex-I and FinancialResults Press Release as Annex-II. We will be sending you 300 copies of Accounts for distribution amongst themembers of the exchange. - Ends - For further information: Investor Relations Contacts Usman Bajwa Investor Relations Officer Telephone: +92 51 920 9888 Fax: +92 51 920 9858 Email: Usman_Bajwa@ogdcl.com Notes to Editors OGDCL is the largest petroleum exploration and production, or E&P, company inthe Pakistan oil and gas sector, with a primary focus on gas. With a portfolio of 42 exploration licences, the Company has the largestexploration acreage (80,128.76 Sq. Kms) in Pakistan. This includes twoexploration licences namely Guddu and Indus offshore-S granted to the Company inFebruary and March 2007. While its focus to date has been on onshore exploration, the Company has alsorecently begun conducting offshore exploration activities; an area which theCompany believes has significant untapped potential. OGDCL had a net profit after tax of Rs 34.497 billion for the nine months ended31 March, 2007. This information is provided by RNS The company news service from the London Stock Exchange