Pakistan Oilfields Limited’s Material Information

Karachi: In accordance with the Listing Regulations, as per information received from MOL, the operator of the TAL Block that hydrocarbons have been encountered in development well Manzalai-9, which has been drilled and completed. As a result of Drill Stem Test (DST) conducted at Lockhart and Lumshiwal formations, the well has tested 580 bbls per day of oil (API gravity 51) and 23.3 MMscf of gas per day @ 32/64″ fixed choke size at flowing wellhead pressure of 4000 psi while Samanasuk formation has tested 716 bbls per day of oil (API gravity 55) and 6.72 MMscf of gas per day @ 32/64″ fixed choke size at flowing wellhead pressure of 1658 psi.

A drill stem test (DST) is a procedure for isolating and testing the surrounding geological formation through the drill stem. The test is a measurement of pressure behaviour at the drill stem and is a way to obtain important sampling information fluid and to establish the probability of commercial production. Accordingly it should be borne in mind that actual production may differ significantly from the test results.

The pre-commerciality working interest of Pakistan Oilfields Limited (POL) is (25%).

For more information, contact:
Syed Khalid Nafees Zaidi
Company Secretary
Pakistan Oilfields Limited
P.O.L. House, Morgah,
Rawalpindi 46600 Pakistan
Tel: +92-51-5487589-97(9 Lines)
Telefax: +92-51-5487598-99(2 Lines)
Email: polcms@pakoil.com.pk
Web: www.pakoil.com.pk

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