CS04-08 (PSX/LSE/SECP)

June 03, 2026

Dear Sir,

Subject:         Oil Discovery from Bobi Deep-1 in Bobi & Dhamraki Mining Lease, District Sanghar, Sindh

We are pleased to announce that Oil & Gas Development Company Limited (OGDCL), as the Operator with 100% working interest in Bobi and Dhamraki Mining Lease, has made an oil discovery from its exploratory well, Bobi Deep-1, located in District Sanghar, Sindh Province.

Based on the interpretation of wireline logs, the Massive Sand of the Lower Goru Formation was tested through a cased-hole Drill Stem Test (DST) and produced 2,000 barrels of oil per day (BOPD) and 1.1 million standard cubic feet of gas per day (MMSCFD) at a choke size of 32/64 inch, with a wellhead flowing pressure (WHFP) of 1,050 pounds per square inch (psi).

Bobi Deep-1 exploratory well was re-entered on May 03, 2026 to test the hydrocarbon potential of massive sands of the Lower Goru Formation. The well was drilled to a total depth of 3,305 meters in Sembar Formation through OGDCL's in-house technical and operational capabilities. The discovery represents a major milestone in the Bobi and Dhamraki Mining Lease, constituting the first hydrocarbon discovery from the Massive Sand play in the area. Besides establishing a new exploration play, the discovery has de-risked analogous prospects in the surrounding region, opening new avenues for future exploration and resource growth.

The discovery is expected to contribute towards bridging the country's energy demand-supply gap through indigenous resources, while augmenting the hydrocarbon reserves base of OGDCL and the country. The achievement also reflects the continued potential of Pakistan's sedimentary basins in supporting domestic energy security.

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, SECP, Islamabad.