Material Information

Oil and Gas Development Company Ltd

19 May 2023

 

CS04-08 (PSX/LSE/SECP)

May 19, 2023

1.

The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi

2.

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

Subject:           MATERIAL INFORMATION 

Dear Sir,

It is informed that Exploratory rights over Block No 3371-18 (Soghri EL) located in district Attock, Punjab province were granted with 100% working interest ownership to OGDCL with effect from May 31, 2006. In order to expand the exploration activities in the vicinity of the Soghri Block by drilling an exploratory well, in accordance with the rule (216) of Pakistan Petroleum (Exploration & Production Rules, 2001), OGDCL requested to the Government of Pakistan for grant of additional area measuring 15.55 sq. km in the exploration license on January 11, 2022. The same request has been approved by the regulator (DGPC) after obtaining formal approvals from the Government of Pakistan on May 19, 2023.

2.       The impact of exploration activities to be undertaken in the Block cannot be determined at this stage.

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

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