Karachi, June 19, 2013 (PPI-OT): In terms of section 15D(1) of the Securities and Exchange Ordinance, 1969 and clause (xx) of the Code of Corporate Governance, we are enclosing herewith a Form disclosing information regarding Discovery in Gambat South Block, operated by PPL having 65% working interest.
You may inform members of your Exchange accordingly.
Disclosure Form in Terms of Section 15D of the Securities and Exchange Ordinance, 1969
Name of Company: Pakistan Petroleum Limited
Date of Report: 19 June, 2013
Name of Company as specified
in its Memorandum: Pakistan Petroleum Limited
Company’s registered office: P.I.D.C. House Dr. Ziauddin Ahmed Road, Karachi-75530
Contact information: Tel: (021) 35686871
Disclosure of inside Information by Listed Company in Terms of Section 15D (1).
Gas Discovery in Gambat South Block
This is inform that PPL, operator of Gambat South Exploration License (having a 65% working interest) has discovered hydrocarbon from its exploratory well Wafiq X-1, located in district Sanghar, Sindh. Wafiq X-1 well was drilled to test the potential of sands of Lower Goru Formation.
Drill Stem Test (DST) results of Wafiq X-1 are as follows: DST-1 S. No. Choke Size Gas Rate Condensate Rate FWHP Water Rate 1 48/64" 7.4 MMscfd 54 STB/d, Condensate 768 psi 39 bbl/d Water gravity = 46 API Chlorides=28,000 ppm 2 36/64" 7.3 MMscfd 55 STB/d, Condensate 1,223 psi 40 bbl/d Water gravity = 46 API Chlorides=23,000 ppm 3 24/64" 5.9 MMscfd 40 STB/d, Condensate 2,185 psi 39 bbl/d Water gravity = 46 API Chlorides=15,000 ppm DST-2: Initial Flow S. No. Choke Size Gas Rate Condensate Rate FWHP Water Rate 1 32/64" 16.8 144 STB/d, Condensate 3,238 psi 51 bbl/d Water MMscfd gravity = 49 API Chlorides=10,000 ppm
Signature
Pursuant to the requirements of the Securities and Exchange Ordinance, 1969 (XVII) of 1969), the Company has duly caused this form/statement to be signed/ on its behalf by the undersigned hereunto duly authorized.
For more information, contact:
M. Mubbasshar Siddiqui
Company Secretary
Pakistan Petroleum Limited
PIDC House, Dr Ziauddin Ahmed Road,
Karachi-75530, Pakistan.
Tel: (021) 35883853-57, 35857730-39, 35681391-95
UAN: (021)111-568-568
Fax: 92-21-35680005 and 92-21-35682125
Website: www.ppl.com.pk