CS04-08 (PSX/LSE/SECP)

January 31, 2025

Subject: Commencement of Production from Bettani-2 Appraisal Well

Dear Sir,

We are pleased to disclose the following information in compliance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Regulations, for dissemination among your members:

Referring to our earlier disclosure dated December 13, 2024, regarding the gas condensate discovery in Samanasuk formation at the Bettani-02 well, Oil & Gas Development Company Limited (OGDCL), as the operator of the Wali Exploration License with a 100% working interest, has successfully commenced production from the Bettani-2 appraisal well in District Lakki Marwat, Khyber Pakhtunkhwa.

Following the completion and stimulation in Kawagarh formation, the well is currently producing 8.5 million standard cubic feet per day (MMSCFD) of gas and 610 barrels per day (BPD) of oil. The produced gas is being processed at OGDCL's Bettani processing plant and injected into the SNGPL network for distribution.

This achievement reflects OGDCL's commitment to advanced exploration and production, reinforcing its leadership in the energy sector. The Company remains dedicated to sustainable development and operational excellence, contributing to Pakistan's energy security and economic growth.

Yours Sincerely,

(Wasim Ahmad)

  Company Secretary

Copy:

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

Securities & Exchange Commission of Pakistan, 63, NIC Building,

Jinnah Avenue, Blue Area,

Islamabad.