Testing/Completion of Development Well Chak 63-05

Summary by AI ^BETAClose X

Oil and Gas Development Company Limited (OGDCL) has successfully completed and tested its new development well, Chak 63-05, located in Sindh, which produced 600 barrels of condensate per day and 10.5 million standard cubic feet of gas per day at a wellhead flowing pressure of 2,580 psig. The well, drilled to 3,325 meters and completed in the Massive Sand reservoir, is expected to be connected to the SSGC system for early monetization. OGDCL, as operator, holds a 62.5% working interest in the lease, with GHPL and OPL holding 22.5% and 15% respectively. This production is anticipated to boost indigenous hydrocarbon supplies and enhance Pakistan's energy security.

Disclaimer*

Oil and Gas Development Company Ltd

30 June 2026

CS04-08 (PSX/LSE/SECP)

June 30, 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: Successful Testing & Completion of Development Well Chak 63-05

Dear Sir,

Oil & Gas Development Company Limited (OGDCL) is pleased to announce the successful completion of Chak 63-05, a new development well located in Chak 63 Development & Production Lease (D&PL), District Sanghar, Sindh.

During production testing through a 32/64-inch choke, the well produced 600 barrels of condensate per day (BPD) and 10.5 million standard cubic feet of gas per day (MMSCFD), with a Wellhead Flowing Pressure (WHFP) of 2,580 psig. The well was spudded on April 20, 2026, drilled to a depth of 3,325 meters, and completed in the Massive Sand reservoir. The well will be connected to the SSGC system, and activities for its early monetization are underway.

OGDCL, as Operator, holds a 62.5% working interest in the lease, while Government Holdings (Private) Limited (GHPL) and Orient Petroleum Inc. Limited (OPL) hold 22.5% and 15%, respectively.

The production from Chak 63-05 is expected to augment indigenous hydrocarbon supplies, contribute to Pakistan's energy security, and further strengthen OGDCL's commitment to sustainable growth and long-term value creation for its stakeholders.

The above information is submitted in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Regulations, for dissemination amongst your members.

Yours Sincerely,

(Wasim Ahmad)

Company Secretary

Copy: Executive Director/HOD, Supervision Division, SECP, Islamabad.

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