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On March 27, 2026, the TAL Joint Venture, comprising Oil & Gas Development Company Limited (OGDCL) (30% working interest), MOL Pakistan Oil & Gas Co, B.V. (10%), Pakistan Petroleum Limited (PPL) (30%), Pakistan Oilfields Limited (POL) (25%), and Government Holdings Private Limited (GHPL) (5%), appraised an existing discovery of gas and condensate in the Bilitang-1- ST-1 Exploratory well in the TAL Block. The well, spudded on August 10, 2025, was drilled to 4004 mTVD, and the Lumshiwal formation was tested at approximately 26.5 Million Standard Cubic Feet per day (MMscfd) gas at a 32/64" choke, with a wellhead flowing pressure of 4214 Psi.
| Date | 27 Mar 2026 |
| Time | 10:11:33 |
| Category | Miscellaneous |
| ID | 4560Y |
CS04-08 (PSX/LSE/SECP)
March 27, 2026
|
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: Appraisal of Existing Discovery of Hydrocarbons in TAL Block at Bilitang-1 (ST-1) Exploratory Well , Khyber Pakhtunkhwa Province Pakistan
Dear Sir,
We are pleased to announce that the TAL Joint Venture comprising Oil & Gas Development Company Limited (OGDCL) (30% working interest), MOL Pakistan Oil & Gas Co, B.V. (the Operator) (10%), Pakistan Petroleum Limited (PPL) (30%), Pakistan Oilfields Limited (POL) (25%) and Government Holdings Private Limited (GHPL) (5%) have appraised the existing discovered gas and condensate ( in traces) from Lumshiwal Formation in the Bilitang-1- ST-1 Exploratory well, located in district Kohat, Khyber Pakhtunkhwa Province.
The Well was spudded-in on August 10, 2025 and was sidetracked to chase better reservoir quality and has been successfully drilled down to 4004 mTVD. Based on interpretation of LWD/Wireline logs data, Lumshiwal formation was tested successfully at rate of around 26.5 Million Standard Cubic Feet per day (MMscfd) gas at 32/64" choke, against wellhead flowing pressure (WHFP) 4214 Pounds per Square Inch (Psi).
This appraisal of existing discovery has de-risked further exploration play in TAL Block, leading to new upside opportunities. The said discovery will also help & contribute towards improving energy security of the country from indigenous resources and add to the hydrocarbon reserves base of OGDCL, its Joint Venture Partners and the Country.
The above information is being submitted in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Regulations for dissemination among your members.
Yours Sincerely,
(Wasim Ahmad)
Company Secretary
Copy:
Executive Director/HOD, Supervision Division, SECP, Islamabad.