PRODUCTION COMMENCEMENT FROM BARAGZAI X-1 WELL

Summary by AI ^BETAClose X

Oil and Gas Development Company Ltd has successfully commenced production from the Baragzai X-1 well in the Nashpa Block, currently yielding approximately 5,300 barrels of oil per day, 17 million standard cubic feet of gas per day, and 15 metric tons of LPG. The well is connected via an 8" x 8.1 km flowline to the Mela facility for onward processing at the Nashpa Plant, with processed gas now entering the SNGPL system. OGDCL, holding a 56.45% working interest, plans to drill two appraisal wells in phase II to further delineate the reservoir and enhance production potential, with a full field development plan to follow.

Disclaimer*

Oil and Gas Development Company Ltd

16 April 2026

CS04-08 (PSX/LSE/SECP)

April 16, 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: PRODUCTION COMMENCEMENT FROM BARAGZAI X-1 WELL, NASHPA BLOCK

Dear Sir,

Further to our earlier disclosure dated March 04, 2026 regarding the Oil & Gas Discovery at Baragzai X-1 (Slant) well from Lockhart Limestone formation, we are pleased to announce a significant development that the Baragzai X-1 well, located in Nashpa Exploration License, has been successfully brought into production.

The well is currently producing approximately 5,300 barrels of oil per day (BPD), 17 million standard cubic feet of gas per day (MMSCFD), and 15 metric tons of LPG, reflecting the well's production potential.

An 8" x 8.1 km flowline has been laid to connect the Baragzai X-1 well to the Mela facility, enabling onward processing at Nashpa Plant. The processed gas is now being injected into the SNGPL system.

In phase II, OGDCL plans to drill two appraisal wells to delineate the reservoir and enhance production potential from the field. Based on the outcome of appraisal wells, a full field development plan would be formulated aimed at achieving maximum production.

Oil and Gas Development Company Limited (OGDCL), as operator of the Nashpa Exploration License located in District Kohat, Khyber Pakhtunkhwa Province, holds a 56.45% working interest, along with its joint venture partners – Pakistan Petroleum Limited (PPL) with 26.05% and Government Holdings (Private) Limited (GHPL) with 17.50% working interest.

OGDCL remains committed to an integrated approach to exploration, drilling, and development activities with a focus on bringing its discoveries into the production stream on an accelerated basis. These efforts reflect the company's commitment to enhancing national energy security and contributing to the sustainable development of Pakistan.

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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