Drilling Report

15 Sep 2009 08:38



No. CS04-08(KSE/LSE/ISE)

September 15, 2009

London Stock Exchange Plc.

10 Paternoster Square,

London EC4M 7LS

Tel: (44) 020 7334 8907

SUBJECT: DISCOVERY OF HYDROCARBON IN DAKHNI WELL NO. 11

Sir,

By the grace of Almighty Allah OGDCL has encountered Oil and Gas in Dakhni Well No. 11 in the Dakhni Mining Lease. Although Dakhni Well No. 11 is a development well, it is first time that Shinwari / Samanasuk formations have been successfully tested for oil and gas. The well is located in District Attock of Punjab Province. The surface coordiantes of the well are 33◦-23'-40.009" N (latitude) and 71◦-54-27.880" E (longitude).

2. The well was spudded-in on July 18, 2008 and was drilled down to the depth of 4,844 Meters. The main objective of drilling is to test the potentials of Chorgali, Sakessar, Lockhart, Patala, Samanasuk, Shinwari, Datta & Kingriali formations. After testing Kingriali and Datta, oil and gas has been encountered in Shinwari / Samanasuk formations of Jurassic age. The initial flow rate of Shinwari / Samanasuk is as under:

3. Testing of Patala, Lockhart, Sakessar and Chorgali is yet to be undertaken.

4. 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