CS04-08 (PSX/LSE/SECP)

October 24, 2024

Subject:        Production Commencement - Exploratory Well Baloch-2, District Sanghar, Sindh

Dear Sir,

Further to our disclosure on August 30, 2024, regarding gas condensate discovery at Baloch-2 in Sembar formation, we are pleased to announce that the well has now been brought into production in Sinjhoro block.

2        The Company's in-house expertise was key in delineating, drilling, and testing the structure. Drilled to a depth of 3,920 meters, the well is currently producing 350 barrels per day (BPD) of oil and 5 million standard cubic feet per day (MMSCFD) of gas. The production is connected to the Sinjhoro Processing Plant, with gas being injected into the SSGCL network.

3.       This venture is a collaboration between OGDCL (76% Working Interest), Orient Petroleum Inc. (19%), and GHPL (5%). The well is located in Sanghar district, Sindh province.

4.       OGDCL is focused on fast-tracking exploration, drilling, and production to enhance national energy security and contribute to Pakistan's sustainable development.

5.       The above information is submitted in compliance of Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members please.

Yours Sincerely,

(Wasim Ahmad)

  Company Secretary

Copy:

Executive Director/HOD, Offsite-II Department, Supervision Division,

Securities & Exchange Commission of Pakistan, 63, NIC Building,

Jinnah Avenue, Blue Area,

Islamabad.