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Oil and Gas Devt Co (OGDC)

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Friday 18 April, 2008

Oil and Gas Devt Co

Drilling Report

Oil and Gas Development Company Ltd
18 April 2008



No. CS04-08(KSE/LSE/ISE)                                         April 18, 2008



1. The General Manager                     3.   The Secretary
    Karachi Stock Exchange (Guarantee)           Islamabad Stock Exchange (Guarantee)
    Limited, Stock Exchange Building             Limited, 101-E, Fazal-ul-Haq Road
    Stock Exchange Road                          Islamabad
    Karachi                                      Fax No. 051-2275044
    Fax No. 021-111-573-329



2.  The Secretary                               4.   London Stock Exchange Plc.
    Lahore Stock Exchange (Guarantee)                10 Paternoster Square,
    Limited, 19-Khayaban-e-Iqbal                     London EC4M 7LS
    Lahore                                           Tel: (44) 020 7334 8907
    Fax. No. 042-111441441



Subject:    DISCOVERY OF HYDROCARBON IN MOOLAN NORTH WELL NO. 01
            (EXPLORATORY) - LASHARI D&PL



Dear Sir,



            By the grace of Almighty Allah, Oil and Gas Development Company
Limited (OGDCL) has discovered gas and condensate in its Exploratory Moolan
North Well No. 01.



2.         Moolan North Well No. 01 structure was delineated in Lashari D&PL
area, falling in district Hyderabad of Sindh Province.  The well was drilled
down to the depth of 2329 meters.  The initial testing results are tabulated as
under:


Gross Production (BPD)                                      1200
Oil production (BOPD)                                       1150
Water production (BPD)                                      50
API of Oil (Degree)                                         45
S.G. of Water                                               1.02
Chlorides in Water (PPM)                                    17395



3.         The above is being provided to you in compliance with the
requirements of Clause No. (xxiii) of the Code of Corporate Governance.



            Thanking you.

                                                               Yours faithfully,


                                                             (Basharat A. Mirza)
                                                          GM / Company Secretary

CC:

1.          The Chairman
            Securities and Exchange Commission of Pakistan   Islamabad
2.          The Commissioner (Enforcement), Securities and
            Exchange Commission of Pakistan, Islamabad



                      This information is provided by RNS
            The company news service from the London Stock Exchange   D

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