18 Oct 2017 11:44
No. CS04-08 (PSX/LSE)/2
October 18, 2017
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: MATERIAL INFORMATION-WELL HEAD GAS PRICES
Dear Sir,
Oil and Gas Regulatory Authority has issued wellhead gas price notifications in respect of Tal Block fields namely Mamikhel, Maramzai and Makori East (Copies enclosed) in terms of the supplemental agreements signed with Government of Pakistan for conversion to Petroleum Exploration & Production Policy 2012 as referred in Note No. 24.3 of the financial statements as of June 30, 2017.
2. As per information received from MOL (the operator in Tal Block) the total revenue impact for OGDCL share is around Rs 3.62 billion net of sales tax which will be accounted for in the financial statement as per accounting policy of the company.
3. 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.
http://www.rns-pdf.londonstockexchange.com/rns/9620T_-2017-10-18.pdf
Yours Sincerely,
(Ahmed Hayat Lak)
Company Secretary
Oil&gas Regs (OGDC)