Material Information

Summary by AI ^BETAClose X

Oil and Gas Development Company Ltd announced the discovery of gas from the Hangu & Lumshiwal formations in the Bilitang-1 exploratory well, located in district Kohat, Khyber Pakhtunkhwa province. The well, spudded on August 10, 2025, successfully tested at approximately 1.58 Million Standard Cubic Feet per day of gas against a wellhead flowing pressure of 164 Psi. This discovery, made by the TAL Joint Venture where OGDCL holds a 30% working interest, 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

02 January 2026

CS04-08 (PSX/LSE/SECP)

January 02, 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: Material information

Dear Sir,

We are pleased to announce the discovery of gas from Hangu & Lumshiwal formation in Bilitang-1, an exploratory well located in district Kohat, Khyber Pakhtunkhwa province. TAL Joint Venture comprises 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%).

The Well was spudded-in on August 10, 2025 and successfully drilled down to 4011 mTVD. Based on interpretation of LWD/Wirline logs data, Hangu & Lumshiwal formations (Exploratory targets) were initially tested successfully at rate of around 1.58 Million Standard Cubic Feet per day(MMscfd) gas at 40/64" choke, against wellhead flowing pressure (WHFP) 164 Pounds per Square Inch (Psi).

This 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.

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