The Israel Land Development Company Ltd.

Regulatory Filings • Nov 27, 2020

National Storage Mechanism | Additional information

RNS Number : 7454G

Oil and Gas Development Company Ltd

27 November 2020

No.CS04-08/PSX/LSE                                                                        November 27, 2020

The General Manager Pakistan Stock Exchange Limited Stock Exchange Building Stock Exchange Road Karachi Fax No: 021-32437567	London Stock Exchange Plc.               10 Paternoster Square London EC4M 7LS Tel: (44) 020 7334 8907

Subject: GAS DISCOVERY AT LAKHIRUD X-1 WELL

Dear Sir,

We are pleased to inform you that Oil and Gas Development Company Limited (OGDCL) as Operator (100%) of Lakhirud Exploration Licence has discovered gas from its exploratory well Lakhirud X-1, which is located in District Musa Khel, Balochistan Province.

The structure of Lakhirud X-1 was drilled and tested using OGDCL's in house expertise.  The well was drilled down to the depth of 3000 meters.  Based on logs data, the well was tested at rate of 2.5 Million Standard Cubic Feet per Day (MMSCFD) of gas and 18 Barrels Per Day (BPD) of water through 32/64" choke at Well Head Flowing Pressure of 600 Pounds per Square Inch (Psi) from Mughal Kot Formation.

The discovery of Lakhirud X-1 has opened a new avenue and would add to the hydrocarbon reserves base of OGDCL.

The above information is submitted in compliance with PSX Regulations / Code of Corporate Governance for dissemination amongst your members please.

Yours truly,

(Ahmed Hayat Lak)

Company Secretary

Copy to:

The Commissioner (Enforcement),

Securities & Exchange Commission of Pakistan,

NIC Building, 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

MSCFEISAWESSESF