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Oil & Gas Development Company Limited (OGDCL) announced on March 18, 2025, a second gas and condensate discovery at the Spinwam-1 well in the Kawagarh Formation of the Waziristan Block. The well tested 20.485 MMSCFD of gas and approximately 117 barrels per day of condensate, with OGDCL holding a 35% working interest in the block alongside Mari Energies Limited (55%) and Orient Petroleum Inc. (10%).
| Date | 18 Mar 2025 |
| Time | 07:00:01 |
| Category | Miscellaneous |
| ID | 0919B |
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OIL & GAS DEVELOPMENT COMPANY LIMITED (BOARD SECRETARIAT) |
CS04-08 (PSX/LSE/SECP)
March 18, 2025
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The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Road, |
London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS.
Tel: (44) 20 7334 8907 |
Subject: 2nd Gas Condensate Discovery at Spinwam-1, Waziristan Block
Dear Sir,
With reference to our announcement dated February 25, 2025, regarding the discovery at Spinwam-1 well in the Samanasuk Formation, we are pleased to report a second gas and condensate discovery in the Kawagarh Formation. OGDCL holds a 35% working interest in the Waziristan Block, with Mari Energies Limited as Operator (55%) and Orient Petroleum Inc. (10%).
The well has tested 20.485 MMSCFD of gas and approximately 117 barrels per day of condensate at a 32/64" choke, with a Well Head Flowing Pressure (WHFP) of 3,431 psig. Testing of additional formations is in progress.
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.
