The Israel Land Development Company Ltd.

Legal Proceedings Report • Sep 13, 2023

National Storage Mechanism | Additional information

RNS Number : 3002M

Oil and Gas Development Company Ltd

13 September 2023

No.CS04-08/ (PSX/LSE/SECP)                                                 September 13, 2023

The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi	London Stock Exchange Plc. 10 Paternoster Square, London EC4M 7LS Tel: (44) 20 7334 8907

Subject:        PRODUCTION ENHANCEMENT- NASHPA WELL-10

Dear Sir,

OGDCL is delighted to announce a significant production increment at the Nashpa Well - 10 as part of its production enhancement campaign. The well is situated within the Nashpa Development and Production Lease (D&PL) in the Karak district of the Khyber Pakhtunkhwa province.

Focused on implementing production enhancement strategy, rigless intervention in the Hangu-Lumshiwal formation has resulted in a considerable upsurge in hydrocarbon production, with an additional output of 900 BPD of oil at a wellhead flowing pressure (WHFP) of 720 PSI. The enhanced production from the well commenced on September 12, 2023. Consequently, the cumulative production from the well now stands at 1340 BPD of oil. The gas is being injected into the SNGPL network.

Nashpa D&PL operates under a joint venture, wherein OGDCL is the operator, possessing a 56.45% stake, alongside Pakistan Petroleum Limited (PPL) with a 28.55% share, and Government Holding Private Limited (GHPL) which holds a 15% share. Nashpa-10 has been in production since December 27, 2020. Prior to the enhancement, the well was producing 440 BPD of oil and 3.40 MMSCFD of gas at a WHFP of 710 PSI from the Datta, Shinawari, and Samanasukh formations.

The above information is submitted in compliance with 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

Executive Director/HOD, SECP, Offsite-II Department, Supervision Division, SECP, Islamabad

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDGPUGUBUPWUMW