Clarification regarding news items published

Oil and Gas Development Company Ltd

22 June 2023

 

CS04-08 (PSX/LSE/SECP)

June 22, 2023

The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi-74000, Pakistan. Fax No. (92-21) 3241 0825, 3241 5136

London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS. Tel: [phone]

Subject: Clarification regarding news items published in print media

Dear Sir,

This is in reference to the news items published in print media on June 21, 2023, which state that two blocks have been awarded to the Oil and Gas Development Company Limited (OGDCL).

In this connection, it is clarified that OGDCL participated in the bidding round on June 20, 2023, during which the Company was the highest bidder for two blocks, Zindan-II in Sindh and Sehwan-III in Punjab. However, the official approval for these block awards from the regulatory authority is yet to be received. Further details will be shared following the issuance of provisional Exploration Licenses by the Ministry of Energy's (Petroleum Division) Directorate General of Petroleum Concessions.

Yours sincerely,

 (Wasim Ahmad)

                                                                                          A/Company Secretary

Copy:

Director/HOD,

Office II, Department Supervision,

Securities & Exchange Commission of Pakistan,

NIC Building, 63 Jinnah Avenue, Blue Area,

Islamabad.

 

END