GAS/CONDENSATE DISCOVERY AT TOGH BALA WELL -01

CS04-08 (PSX/LSE/SECP)

August 25, 2020

Subject:          GAS/CONDENSATE DISCOVERY AT TOGH BALA WELL -01 IN BLOCK NO 3371-10(KOHAT)

Dear Sir,

          The Kohat joint venture comprising of Oil and Gas Development Company Limited (OGDCL) as operator (50%), Mari Petroleum Company Limited (MPCL) (33.33%) & Saif Energy Limited (SEL) (16.67%) has made a gas and condensate discovery from its exploratory efforts at Togh Bala- 01, which is located in district Kohat, Khyber Pakhtunkhwa Province.

2.       Togh Bala Well -01 was spuded-in on June 27, 2020 and drilled down to 2172 meters into Lockhart Formation. The open hole testing was carried out against Lockhart Formation which flowed at the rate of 9.00 Million Standard Cubic Feet per Day (MMSCFD) gas and 125 Barrels per Day (BPD) condensate with will head flowing pressure of 1690 Psi AT 32/64" choke size.

3.       It is highlighted that this is the 2^nd consecutive discovery in Kohat Block. The discovery of Togh Bala Well -01 is the result of aggressive exploration strategy adopted by Kohat JV and it would add to the hydrocarbon reserves base of OGDCL and the country.

4.       The above information is submitted in compliance Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of PSX Regulations, for dissemination amongst your members please.

Yours Sincerely,

(Ahmed Hayat Lak)

Company Secretary

Copy:

Director/HOD,

Surveillance, Supervision and Enforcement Department

Securities & Exchange Commission of Pakistan,

NIC Building,63 Jinnah Avenue, Blue Area,

Islamabad