Appraisal of Existing Discovery of Hydrocarbons

Summary by AI ^BETAClose X

Oil and Gas Development Company Limited announced the successful appraisal of hydrocarbons from the Lumshiwal Formation at the Bilitang-1-ST-1 Exploratory Well in Pakistan's Khyber Pakhtunkhwa Province. The well, drilled to 4004 mTVD, tested at approximately 26.5 Million Standard Cubic Feet per day of gas with a 32/64" choke and 4214 Psi wellhead flowing pressure. This appraisal de-risks further exploration in the TAL Block, offering new upside opportunities and contributing to the country's energy security and hydrocarbon reserves.

Disclaimer*

Oil and Gas Development Company Ltd

27 March 2026

CS04-08 (PSX/LSE/SECP)

March 27, 2026

The General Manager,

Pakistan Stock Exchange Limited,
Stock Exchange Building,

Stock Exchange Road,
Karachi-74000, Pakistan.

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END