Material Information

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Oil and Gas Development Company Ltd has announced the commencement of gas and condensate production from the Spinwam-1 discovery in the Waziristan Block, KP Province, during its Extended Well Testing phase. The well is currently producing approximately 40 MMscfd of gas and 200 BBL/D of condensate. With the addition of this production, early production facilities at Shewa will operate at full capacity, bringing the total output from both Shewa and Spinwam wells to around 100 MMscfd of gas and 800 BBL/D of condensate. The Joint Venture includes Oil & Gas Development Company Limited with a 35% working interest, Mari Energies Limited as the Operator with 55%, and Orient Petroleum Inc. with 10%.

Disclaimer*

Oil and Gas Development Company Ltd

01 April 2026

CS04-08 (PSX/LSE/SECP)

April 01, 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: Commencement of Production from Spinwam-1 Discovery in Waziristan Block - KP Province

Dear Sir,

We are pleased to announce that gas and condensate production has commenced from Spinwam-1 discovery located in Waziristan Block in KP Province under the Extended Well Testing (EWT) phase. The well has been completed in Lockhart reservoir. The current gas production rate from the well is ~40 MMscfd, and ~ 200 BBL/D of condensate.

With the induction of this gas, the early production facilities established at Shewa will be operated at full capacity with total production from both Shewa and Spinwam wells will be around 100 MMscfd gas and ~800 BBL/D of condensate.

The Joint Venture comprises Oil & Gas Development Company Limited (35% working interest), Mari Energies Limited (the Operator of Waziristan Block) (55%), and Orient Petroleum Inc. (10%) working interest, respectively.

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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