The Israel Land Development Company Ltd.

Share Issue/Capital Change • Jan 28, 2021

National Storage Mechanism | Additional information

RNS Number : 1797N

Oil and Gas Development Company Ltd

28 January 2021

CS04-08 (PSX/LSE/SECP)

January 28, 2021

1.	The General Manager, Pakistan Stock Exchange Limited, Stock Exchange Building, Stock Exchange Road, Karachi-74000, Pakistan. Fax No. (92-21) 3241 0825, 3241 5136	2.	London Stock Exchange Plc., 10 Paternoster Square, London EC4M 7LS. Tel: (44) 20 7334 8907

Subject:        Provisional Award of New Exploration Blocks

Dear Sir,

OGDCL had participated in the competitive bidding round for exploration blocks held by the Government in January 2021 and the Directorate General of Petroleum Concessions (DGPC) has communicated provisional award of new exploration blocks to OGDCL. The blocks have been awarded on the basis of work units committed by different E&P Companies. Details of the blocks provisionally awarded to OGDCL are as under:

S#	Block Name	Province	Operator (Working Interest)	JV Partner(s) (Working Interest)
1.	Killa Saifullah	Balochistan	OGDCL (60%)	MPCL (40%)
2.	Sharan	Balochistan	MPCL (60%)	OGDCL (40%)
3.	Suleiman	Balochistan	OGDCL (50%)	PPL (50%)
4.	Sutlej	Punjab	OGDCL (100%)	-
5.	Lilla	Punjab	OGDCL (100%)	-
6.	Hazro	Punjab	OGDCL (100%)	-
7.	Jhelum	Punjab	OGDCL (100%)	-
8.	Vehari	Punjab	OGDCL (100%)	-
9.	Khewari East	Sindh	OGDCL (100%)	-
10.	Sujawal South	Sindh	OGDCL (100%)	-
11.	Nowshera	Khyber Pakhtunkhwa	OGDCL (100%)	-

The aforesaid provisional award will be formalized upon:

1)  Approval of the acquisition by OGDCL Board of Directors;

2)  Execution of Petroleum Concession Agreements with DGPC and necessary agreements with joint venture partners;

3)  Completion of regulatory and procedural formalities.

Participation in the bidding round is in furtherance of Company's strategy and business plan to invest in its core business, accelerate exploratory activities and augment hydrocarbon reserves balance.

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,

(Ahmed Hayat Lak)

Company Secretary

Copy:

Director/HOD,

Surveillance, Supervision and Enforcement Department

Securities & Exchange Commission of Pakistan,

NIC Building,63 Jinnah Avenue, Blue Area,

Islamabad

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