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Oil & Gas Development Company Limited (OGDCL) reported its 4th gas and condensate discovery on April 08, 2025, in the Lockhart Formation at the Spinwam-1 Well, Waziristan Block. OGDCL holds a 35% working interest in the block, with Mari Energies Limited (55%) and Orient Petroleum Inc. (10%); testing on a 64/64" choke yielded gas at 70.3 MMSCFD and condensate at 310 bbl/day, and the well's testing program has now concluded.
| Date | 8 Apr 2025 |
| Time | 08:42:43 |
| Category | Miscellaneous |
| ID | 0915E |
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OIL & GAS DEVELOPMENT COMPANY LIMITED (BOARD SECRETARIAT) |
CS04-08 (PSX/LSE/SECP)/1
April 08, 2025
|
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: 4th Gas and Condensate Discovery at Spinwam-1 Well, in the Lockhart Formation, Waziristan Block
Dear Sir,
We are pleased to report fourth gas and condensate discovery in the Lockhart 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 testing in Lockhart has shown the following flowing parameters:
|
Choke Size |
Gas MMSCFD |
Condensate bbl/day |
Well Head Flowing Pressure (WHFP) psig |
|
64/64" |
70.3 |
310 |
3,264 |
|
32/64" |
29.3 |
166 |
4,993 |
This discovery follows our previous announcements on February 25, 2025, March 18, 2025 and April 03, 2025, communicating hydrocarbon discoveries in the Samanasuk, Kawagarh, and Hangu formations, respectively in the same well. The testing program of all the target formations in the well has now been concluded.
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.
