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On April 3, 2025, Oil & Gas Development Company Limited (OGDCL) announced a third gas and condensate discovery at the Spinwam-1 Well in the Waziristan Block, from the Hangu Formation. The well flowed 23.85 MMSCFD of gas and approximately 122 barrels per day of condensate, with OGDCL holding a 35% working interest in the block alongside Mari Energies Limited (55% operator) and Orient Petroleum Inc. (10%).
| Date | 3 Apr 2025 |
| Time | 08:14:09 |
| Category | Miscellaneous |
| ID | 5160D |
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OIL & GAS DEVELOPMENT COMPANY LIMITED (BOARD SECRETARIAT) |
CS04-08 (PSX/LSE/SECP)
April 03, 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: 3rd Gas and Condensate Discovery at Spinwam-1 Well, Waziristan Block
Dear Sir,
With reference to our announcement dated March 18, 2025, regarding the discovery at Spinwam-1 well in the Waziristan Block, Khyber Pakhtunkhwa from the Kawagarh Formation, we are pleased to report third gas and condensate discovery in the Hangu Formation at the Spinwam-1 Well. 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 flowed 23.85 MMSCFD of gas and approximately 122 barrels per day of condensate at a 32/64" choke, with a Well Head Flowing Pressure (WHFP) of 4,042 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.
