CS04-08 (PSX/LSE/SECP)

October 01, 2025

Subject:    GAS CONDENSATE DISCOVERY AT BITRISM EAST-1 EXPLORATORY WELL, DISTRICT KHAIRPUR, SINDH PROVINCE, PAKISTAN

Dear Sir, 

Oil & Gas Development Company Limited (OGDCL), the operator of Bitrism Exploration License holding 95% working interest, in joint venture with Government Holdings (Private) Limited (GHPL) with 5% working interest, is pleased to announce the discovery of Gas/Condensate at Bitrism East-1, located in District Khairpur, Sindh Province.

The well was spudded on June 30, 2025, and drilled down to a depth of 3,800 meters in Sembar Formation, using OGDCL's in-house expertise in collaboration with its Joint Venture Partner. Based on wireline log interpretations, two Drill Stem Tests (DSTs) were carried out in the Lower Goru Formation (Massive and Basal Sands).

The first DST was conducted in Massive Sand while the second DST was conducted in Basal Sand. In both the DSTs the well produced significant quantities of hydrocarbons with combined production potential of 22.5 MMSCFD gas and 690 barrels of condensate per day (BCD) at 32/64" choke.

This discovery from the Lower Goru Formation (Massive and Basal Sands) marks another success in the Bitrism Exploration License. It will contribute to reducing the gap between energy supply and demand through indigenous resources and will add to the hydrocarbon reserves base of OGDCL and of the country.

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.